Blogging Options: CBOE Morning Update 10.10.13

Volatility as an asset class

Citrix (CTXS) is down $8.16 to $58.50 in the premarket after the enterprise software maker missed on earnings and lowered its Q3 EPS and revenue outlook. Overall volatility of 35 is near its 26-week average of 34.

Quest Diagnostics (DGX) is down $3.58 to $57.85 after forecasting weaker-than-expected results in its Q3, citing softness in its diagnostic information services business. Overall option implied volatility of 23 is near its 26-week average of 22.

Chevron (CVX) is down $0.73 to $115.40 after reporting earnings for Q3 are expected to be lower than in Q2. Overall volatility of 21 is above its 26-week average of 17.

Gilead (GILD) is up $2.39 to $61.29 announcing it will stop its Phase 3 study of Idelalisib early due to positive risk-benefit. Overall volatility of 37 is above its 26-week average of 33.

Options expected to be active @ CBOE; VIX SPX AAPL NOK ALU BAC AMD GSK TSLA JCP BBRY
CBOE S&P 500 BuyWrite Index (BXM) closed at $942, below its 50-day moving average of 958.88. www.cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) closed at 235.76, below its 50-day moving average of 243.39. http://www.cboe.com/micro/bxd/

CBOE Volatility Index (VIX) closed at 19.60, above its 10-day moving average of 17.20 and its 50-day moving average of 14.91. www.cboe.com/VIX

Calls with increasing volume at CBOE:

FB 10/19/2013 47 32K contracts
SPY 10/19/2013 167 15K
IWM 10/19/2013 106 11K
XLF 10/11/2013 20 10K
HPQ 10/19/2013 22 10K

Puts with increasing volume at CBOE:

VXX 11/16/2013 13 235K contracts
SPY 10/11/2013 165 55K

SPDR S&P 500 ETF Trust (SPY) is is up $1.37 to $166.94 after U.S. President Barack Obama invited Republicans and Democrats to the White House for talks about ending the government shutdown.

Jobs data a mess again, as California delivers bad data again.   VXX record volume at CBOE yesterday