Blogging Options: CBOE Morning Update 9.6.13

Terrible NFP #’s and revisions,  but futures like the headline drop to 7.3%.

Timken (TKR) is up $2.94 to $63.20 in the premarket after announcing a plan to split the company’s steel business from its bearing and power transmission business into two public companies. Overall option implied volatility of 31 is near its 26-week average of 32.

Cooper Companies (COO) closed at $133.25 into the contact-lens company reporting Q3 earnings rose 33% on better than expected revenue.  September call option implied volatility is at 38, October and February is at 29; compared to its 26-week average of 24.

Smith & Wesson (SWHC) is down $0.59 to $10.89 after the gun maker reported a Q1 profit increase of 49%.  September call option implied volatility is at 57, September is at 43, December is at 42; compared to its 26-week average of 45.

VefiFone (PAY) is higher by $1.38 to $22.15 in the premarket after the maker of card-payment systems reported better than expected Q3 results. Overall option implied volatility of 31 is near its 26-week average of 32.

Options expected to be active @ CBOE; AMT CCI SBAC TKR COO ZQK NOK TOT FB SWHC

CBOE S&P 500 BuyWrite Index (BXM) closed at $957.12, below its 50-day moving average of 956.07. www.cboe.com/BXM

CBOE Volatility Index (VIX) closed at 15.77, near its 10-day moving average of 15.90 and above its 50-day moving average of 14.38. www.cboe.com/VIX

Calls with increasing volume at CBOE:

LNG 9/21/2013 31 12K contracts
VXX 10/19/2013 21 12K
BAC 9/6/2013 14.50 12K
OPK 1/18/2014 10 10K
SPY 9/6/2013 166 9K
BAC 9/21/2013 15 6K
C 9/6/2013 50 6K

SPDR S&P 500 ETF Trust (SPY) is up $0.57 to $166.53 going into the opening bell.
169k a fairly large miss from the ~180k expected for Aug NFP.  June & July jobs gains revised lower (July revised lower by 58k), Participation Rate lowest since 1978, drops by 500k !  Taper ON / Taper OFF.

Watch the VIX, and the 10-year (flirting with 3.00%, now at 2.88%).