Blogging Options: CBOE Morning Update 10.3.13

Volatility as an asset class

Tesla Motors (TSLA) is down $3.35 to $177.60 in the premarket  after a downgrade and a Tesla Model S fire raised investor concern. October weekly call option implied volatility is at 119, October is at 66, November is at 74, December is at 67; compared to its 26-week average of 57.

SPDR Gold Trust (GLD)  overall implied volatility of 21 is above its 26-week average of 19.

iShares Silver Trust (SLV) overall implied volatility of 33 is above its 26-week average of 31.

Russell 2000 (IWM) overall implied volatility of 17 is above its 26-week average of 18.

Financial Select Sector (XLF) overall volatility of 18 is above its 26-week average of 19.

VIX methodology for Apple (VXAPL) closed at 30.60, above its 50-day moving average of 28.   www.cboe.com/VXAPL

Options expected to be active @ CBOE; BAC ABX VOD BBRY FB AAPL TSLA BP JCP

CBOE S&P 500 BuyWrite Index (BXM) closed at $960.22, above its 50-day moving average of 959.81. www.cboe.com/BXM

CBOE Volatility Index (VIX) closed at 16.60, above its 10-day moving average of 14.69 and its 50-day moving average of 14.35. www.cboe.com/VIX

Calls with increasing volume at CBOE:

SPY 10/19/2013 175 34K contracts
PM 11/16/2013 55 15K
BAC 1/17/2015 17 15K

Puts with increasing volume at CBOE:

SPY 11/16/2013 163 13K contracts
CTIC 12/21/2013 1.50 10K
XLF 3/22/2014 18 7K

Jobless Claims slightly higher, Long-Term Claims spike higher after missing California data updated. SPDR S&P 500 ETF Trust (SPY) is down $0.58 to $168.60 into the third day of  the U.S. government partial shutdown.