Blogging Options: CBOE Morning Update 2.5.14

Another day, another 7″ of snow in Chicago.  ADP Jan jobs report disappointed, showing 175k new jobs (183k expected), December revised lower by 11k.

Volatility as an asset class

Estee Lauder (EL) is up $1.31 to $70.50 in the premarket after the beauty products company sees for year sales growth of 6%-7%.  Overall option implied volatility of 31 is above its 26-week average of 24.

Buffalo Wild Wings (BWLD) is up $2.25 to $143 on another EPS beat and better than expected same store sales.  February call option implied volatility is at 49, March is at 37, June is at 35; compared to its 26-week average of 35.

Merck (MRK) is up $0.89c to $54.40 in the premarket after saying Q4 earnings declined 14%. Overall option implied volatility of 27 is above its 26-week average of 18.

Options expected to be active @ CBOE: P TWTR YELP MRK LNKD AOL CVS

CBOE S&P 500 BuyWrite Index (BXM) at 987.52, below its 50-day moving average of 1009.83. cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 243.77, below its 50-day moving average of 252.49. cboe.com/micro/bxd/

CBOE S&P 500 Short-Term Volatility Index (VXST) closed at 20.37, compared to its 10-day moving average of 18.46 VXST is a market-based gauge of expectations of 9-day volatility.  cboe.com/vxst

iPath S&P 500 VIX Short-Term Futures (VXX) is recently up 1.73 to 53.57 in the premarket.

CBOE Volatility Index (VIX) at 19.11, above its 10-day moving average of 17.15 and its 50-day moving average of 14.18. cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is down 1.22 to $174.16 ahead of January’s jobs report on Friday.

Calls with increasing volume at CBOE:
QQQ 4/19/2014 89 27K contracts
SPY 2/22/2014 175 21K
CNQ 9/20/2014 34 18K
VXX 2/28/2014 57 13K
EEM 2/22/2014 38 12K
UUP 2/22/2014 22 10K
XLU 2/22/2014 39 9K

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