Blogging Options: CBOE Morning Update 10.18.13

Volatility as an asset class

Las Vegas Sands (LVS) is up $1.27 to $72.24 in the premarket after the casino and resort operator reported Q3 earnings rose 79%. Overall option implied volatility of 58 is above its 26-week average of 30.

Google (GOOG) is up $84.22 to $973 on a Q3 revenues increasing 12%. October call option implied volatility is at 54, November is at 25, December is at 22, March is at 21; compared to its 26-week average of 23.

Intuitive Surgical (ISRG) is off $30 to $369 after the surgical robot manufacturer reported Q3 earning fell 14%.  Overall option implied volatility of 57 is above its 26-week average of 34.

Chipotle Mexican Grill (CMG) is indicated $36 higher to $475 on after the fast food burrito chain reported Q3 earnings rose 15% and pointed to increased retail traffic in their restaurants. November call option implied volatility is at 45, December is at 30; compared to its 26-week average of 29.

Capital One (COF) is $0.35 higher in the premarket after the leading credit card provider reported better than expected Q3 results. Overall option implied volatility of 33 is above its 26-week average of 25.

Options expected to be active at CBOE; AAPL FB NFLX FB GOOG CMG EBAY

CBOE S&P 500 BuyWrite Index (BXM) closed at $981.14, above its 50-day moving average of 959 62. www.cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) closed at 244.95, near its 50-day moving average of 242.82. http://www.cboe.com/micro/bxd/

CBOE Volatility Index (VIX) closed at 13.48, below its 10-day moving average of 17.11 and its 50-day moving average of 15.29. www.cboe.com/VIX

Calls with increasing volume at CBOE:

XLF 12/21/2013 21 60K contracts
SPY 11/16/2013 175 39K
VXX 10/19/2013 14 12K

Puts with increasing volume at CBOE:

VXX 11/16/2013 13 44K contracts
SPY 11/16/2013 172 37K

SPDR S&P 500 ETF Trust (SPY) is up $0.50 to $173.70 as European stocks gain for a seventh day as China’s GDP rises. Other earnings reports today mostly positive, including MS, GE, SLB, BHI.

October front month equity options expire today, October 18, 2013

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