Blogging Options: CBOE Morning Update 11.25.13

Holiday week with bad weather in the Midwest heading East….

Caterpillar (CAT) is up $1.42 to $84.30 in the premarket after being upgraded to Buy from Neutral with a $100 price target at BofA/Merrill. Overall option implied volatility of 19 is below its 26-week average of 22.

Burger King (BKW) is higher by $0.43 to $20.81after being initiated with a Buy and a $25 price target at Goldman. Overall option implied volatility of 24 is below its 26-week average of 27.

Alcoa (AA) is up $0.30 to $9.54 in the premarket after being upgraded to Buy from Neutral and its price target raised to $11 from $8 at Goldman. Overall option implied volatility of 29 is near its 26-week average of 27.

Options expected to be active @ CBOE; IMAX LGF PANW WDAY HPQ QCOM NUAN HRL
CBOE S&P 500 BuyWrite Index (BXM) closed at $1000.42, above its 50-day moving average of 977.09. www.cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) closed at 250.69, above its 50-day moving average of 245.16. http://www.cboe.com/micro/bxd/

CBOE S&P 500 PutWrite Index (PUT) closed at 1348.25, above its 10-day MA of 1342.37 and its 50-day moving average of 1320.98. www.cboe.com/PUT

CBOE S&P 500 95-110 Collar Index (CLL) closed at $605.30 www.cboe.com/CLL

CBOE S&P 500 Short-Term Volatility Index (VXST) closed at 10.34. VXST is a market-based gauge of expectations of 9-day volatility.   cboe.com/vxst

CBOE Volatility Index (VIX) closed at 12.26, below its 10-day moving average of 12.72 and its 50-day moving average of 14.35. www.cboe.com/VIX

CBOE VIX futures December is @ 13.45, January is @ 15.09, May is @ 18.39 July is @ 19.10 http://cfe.cboe.com/

CBOE DJIA Volatility Index (VXD) closed @ 11.40, below its 50-day moving average of 13.69 www.cboe.com/VXD

Calls with increasing volume at CBOE:

SPY 12/21/2013 189 20K contracts
INTC 12/21/2013 25 12K
BAC 12/21/2013 16 12K
TIF 11/29/2013 86 12K
C 1/18/2014 55 10K
HTZ 3/22/2014 25 10K

SPDR S&P 500 ETF Trust (SPY) is recently is recently up 44c to $181.25 after a historic deal to curb Iran’s nuclear program.  Oil drops on Iran deal.  WMT says Doug McMillon (Sam’s Club) to take over has traders talking.  CPB changes recipe, GS downgrades after customers say “uhm, uhm not so good”