Blogging Options: CBOE Morning Update 3.5.14

ADP February Payrolls with a huge miss as we start Ash Wednesday, and January revised lower by 48k.  The two previous months adjusted lower as well.  European shares in mild retreat, Asian shares mixed.

Volatility as an asset class

Honeywell (HON) is up $0.73 to $95.33 in premarket as company sees double-digit earnings growth through 2018. March weekly call option implied volatility is at 23, March, April and June is at 16; compared to its 26-week average of 19.

PetSmart (PETM) is higher by $0.94 to $68.60 after reporting Q4 EPS of $1.28, compared to consensus $1.21. Overall option implied volatility of 27 is above its 26-week average of 24.

General Motors (GM) is up $0.30 to $37.23 in the premarket on China sales rising 20% in February. Overall option implied volatility of 26 is near its 26-week average of 27.

Options expected to be active @ CBOE: PLUG BP JKS FCEL BLDP ZNGA QIHU

CBOE S&P 500 BuyWrite Index (BXM) at 1048.30, compared to its 50-day moving average of 1020.96 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 257.98, compared to its 50-day moving average of 253.78 cboe.com/micro/bxd/

CBOE S&P 500 Short-Term Volatility Index (VXST) at 13.22, compared to its 10-day moving average of 13.47. 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 down 8c to 43.16 in the premarket.

CBOE Volatility Index (VIX) at 14.10, compared to its 10-day moving average of 14.53 and its 50-day moving average of 14.57 cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is up 0.14 to $187.71 after an ADP employment report showed private employers added fewer jobs than expected in February.

Calls with increasing volume at CBOE:

SPY 3/22/2014 189 30
EMC 7/19/2014 30 13K
AAL 3/22/2014 35 11K
AMAT 1/17/2015 20 9K
BAC 4/19/2014 17 9K
NOK 5/17/2014 7 9K