Blogging Options: CBOE Mid-Day Update 10.10.13

Volatility as an asset class

General Motors (GM) is up $0.57 to $34.73 after reporting China sales rose 13.7%. Overall option implied volatility of 32 is above its 26-week average of 28.

Stratasys (SSYS) is higher by $4.95 to $97.73 after the 3D printer manufacturer was upgrade to Overweight at JPMorgan. Overall option implied volatility of 54 is above its 26-week average of 51.

Sirius XM (SIRI) is up $0.12 to $3.95 after announces additional $2B stock repurchase program, deal to repurchase of $500M of common stock from Liberty Media (LMCA). Overall option implied volatility of 39 is near its 26-week average of 38.

Ruby Tuesday (RT) is down $1.36 to $6.19 after the restaurant operator reported a wider than expected Q1 loss. November call option implied volatility is at 53, April is at 46; compared to its 26-week average of 38.

Active options at CBOE; FB AAPL TSLA NFLX HPQ C GOOG AMZN

Nasdaq-100 Index Options (NDX) is recently up 1.9% to 3202.10, below 50-day MA of 3212.95 www.cboe.com/NDX

CBOE S&P 500 BuyWrite Index (BXM) is recently up $15.75 to $957.70, below its 50-day moving average of 958.86. www.cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) is recently up $3.73 to 239.49, below its 50-day moving average of 243.25. http://www.cboe.com/micro/bxd/

CBOE Volatility Index (VIX) is down 2.86 to 16.84. VIX October 17, 22 call and October 15 puts are active on total option volume of 690K contacts at the CBOE.

CBOE VIX futures Oct at 16.64, Jan at 18.09, March at 19.03, June at 19.85; VIX at 16.63

iPath S&P 500 VIX Short-Term Futures (VXX) are down 1.24 to 15.13

S&P 100 Options (OEX) is higher by $11.43 to $748.67 after U.S. President Barack Obama invited Republicans and Democrats to the White House for talks about ending the government shutdown.  Possible short-term compromises being floated in the media by both sides.  10-year bond yield moves higher to 2.71%.

Over 4 million option contracts have traded at the CBOE so far today.  Over 800,000 VIX contracts and 500,000 SPX contracts have changed hands in a busy session.