Blogging Options: CBOE Mid-day Update 10.24.13

Volatility as an asset class

Potash (POT) is recently down $1.08 to $30.62 after the fertilizer company reported quarterly results that missed estimates, and lowered its 2013 profit outlook. November call option implied volatility is at 24, December is at 26, January and March is at 27; compared to its 26-week average of 29.

Ford (F) is recently up 28c to $17.80 after reporting a Q3 profit and a 12% increase in revenue. November call option implied is at 21, December is at 22, January and February is at 23; compared to its 26-week average of 27.

Generac (GNRC) is recently up $6.51 to $48.26 after the generator company reported results. November call option implied volatility is at 30, December is at 26, February is at 28; compared to its 26-week average of 32.

Southwest (LUV) is recently up 45c to $16.86 after the airline carrier Q3 revenue rose 5.5% to $4.55B. generator company reported results. November call option implied volatility is at 23, December is at 20, March is at 21; compared to its 26-week average of 25.

3M Company (MMM) is recently up 9c to $123.27 as the industrial conglomerate reported Q3 earnings rose 5.9%. November, December and January call option implied volatility is at 12, April is at 13; below its 26-week average of 17.

PulteGroup (PHM) is recently up $1.22 to $17.91 after the homebuilder reported Q3 adjusted EPS $45c, consensus 36c. November call option implied volatility is at 39, December and April is at 37; compared to its 26-week average of 45.

Active options into results @ CBOE: AAPL TSLA NFLX MSFT ZNGA AMZN PBR FB C GOOG

CBOE S&P 500 BuyWrite Index (BXM) is recently up $1.10 to $985.54, above its 50-day moving average of 961.46. www.cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) is recently up 62c to 246.18, above its 50-day moving average of 242.67. http://www.cboe.com/micro/bxd/

CBOE Volatility Index (VIX) is recently down 23c to 13.19. VIX November 16 and 17 calls are active on total option volume of 116K contacts at the CBOE.

iPath S&P 500 VIX Short-Term Futures (VXX) are recently down 18c to 12.89.

S&P 100 Options (OEX) is recently up $2.56 to $779.64 on strong corporate earnings reports and subdued inflation concerns.

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