Blogging Options: CBOE Morning Update 11.6.13

Volatility as an asset class

Tesla Motors (TSLA) is down $20.11 to $156.94 in the premarket after the company reported earnings and revenue that beat estimates, but reported it sold slightly more than 5,500 Model S in the quarter, which fell short of analysts’ expectations.  Overall option implied volatility of 68 is above its 26-week average of 49.

OpenTable (OPEN) is up $2.91 to $74  after the online reservation company on better than expected organic dinner growth.  Overall option implied volatility of 58 is above its 26-week average of 43.

Fossil Group (FOSL) is up $1.98 to $136 after the fashion-accessories retailer reported Q3 earnings rose 17%. Overall option implied volatility of 46 is above its 26-week average of 39.

Abercrombie & Fitch (ANF) is down $2.55 to $35.76 in the premarket after reporting week Q3 sales and holiday outlook. Overall option implied volatility of 71 is above its 26-week average of 42.

Options expected to be active @ CBOE; TSLA SIRI GRPN SCTY T GLW GM

CBOE S&P 500 BuyWrite Index (BXM) closed at $991.14, above its 50-day moving average of 967.41. www.cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) closed at 246.85, above its 50-day moving average of 243.53. http://www.cboe.com/micro/bxd/

CBOE S&P 500 PutWrite Index (PUT) closed at 1338.35, above 10-day MA of 1335.56 www.cboe.com/PUT

CBOE S&P 500 95-110 Collar Index (CLL) closed at $591.35  www.cboe.com/CLL

CBOE Volatility Index (VIX) closed at 13.27, near its 10-day moving average of 13.33 and below its 50-day moving average of 15.09. www.cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is is up 69c to $176.86 on hopes for continued Fed stimulus.

Calls with increasing volume at CBOE:

IYR 12/21/2013 69 25K contracts
BAC 12/21/2013 14 24K
SPY 11/8/2013 176 5K
FB 11/8/2013 50 5K
AAPL 11/8/2013 525 5K
VXX 11/16/2013 13 5K

Twitter IPO prices near close today, we’ll explain about options listing on IPO’s later today.

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