Blogging Options: CBOE Morning Update 10.17.13

Yesterday, the volume in SPX options approached 1.2 million contracts and VIX option volume was a shade under 1.25 million contracts.

IBM (IBM) is down $12.91 to $173.82 in the premarket after reporting a sixth straight quarterly decline in revenue.  October call option implied volatility is at 33, November is at 24, January is at 19; compared to its 26-week average of 20.

eBay (EBAY) is off $3.37 to $50.15 after delivering strong Q3 revenue gains, but offered weak Q4 outlook. October call option implied volatility is at 67, November is at 34, January is at 30; compared to its 26-week average of 32.

Xilinx (XLNX) is down $2.00 in light premarket trading after the programmable chip manufacturer reported Q2 earnings rose 15%, however giving a weak revenue outlook.  October call option implied volatility is at 51, November is at 25, March is at 24; compared to its 26-week average of 24.

American Express (AXP) is indicated higher in the premarket after reporting Q3 net income of $1.4B, up 9% from a year ago. October call option implied volatility is at 38, November is at 22, January is at 21; compared to its 26-week average of 22.

Options expected to be active at CBOE; VIX SPX AAPL GS EBAY IBM BAC FB GOOG OEX AXP

CBOE S&P 500 BuyWrite Index (BXM) closed at $977.30, above its 50-day moving average of 959 27. www.cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) closed at 244.90, near its 50-day moving average of 242.87. http://www.cboe.com/micro/bxd/

CBOE Volatility Index (VIX) closed at 14.71, below its 10-day moving average of 17.53 and above its 50-day moving average of 15.28. www.cboe.com/VIX

Calls with increasing volume at CBOE:

SPY 11/1/2013 175 17K contracts
CSCO 11/16/2013 26 15K
XLI 12/21/2013 49.0000 15K
TSO 2/22/2014 55 12K

Puts with increasing volume at CBOE:

XLF 1/18/2014 20 46K contracts
GERN 11/16/2013 4 21K
IWM 10/25/2013 107 16K
CSCO 11/16/2013 19 15K

Goldman Sachs is off $4.80 to $157.45, earnings beat but revenue softer than expected.   SPDR S&P 500 ETF Trust (SPY) is down $0.68 to $171.39. European shares fell across the board, Asian shares mixed.  Market relief at a last-ditch U.S. budget deal gave way to worries over the economic impact of the 16-day government shutdown.  10-year 2.63%, metals and Ag’s up, oil lower.

Earnings season continues.

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