Blogging Options: CBOE Mid-day Update 3.12.14

Volatility as an asset class

Tesla Motors (TSLA) is recently up $7.15 to $241.23 after the New Jersey Motor Vehicle Commission yesterday approved a rule change that will prevent Tesla from directly selling its cars in the state. March weekly call option implied volatility is at 61, March is at 54, April and June is at 57; compared to its 26-week average of 56.

Whirlpool (WHR) is recently down 94c to $143.41 after repeats FY14 ongoing business operations EPS view of $12.00-$12.50. March call option implied volatility is at 26, April is at 25, June is at 27; compared to its 26-week average of 32.

FuelCell (FCEL) is recently down 3c to $3.25 after the power equipment maker was downgraded to Market Perform from Outperform by Cowen. March call option implied volatility is at 203, April is at 176, July is at 133; compared to its 26-week average of 93.

Actives @ CBOE:  AAPL TSL C GOOG CLF VZ FB ZNGA TWTR

Options with increasing volume @ CBOE: WLT CPWR BBG CETV INFY PLUG AEGR AWAY BLDP PAY FCEL

CBOE S&P 500 Short-Term Volatility Index (VXST) down 11c to 14.01, compared to its 10-day moving average of 13.44. VXST is a market-based gauge of expectations of 9-day volatility cboe.com/vxst

CBOE DJIA BuyWrite Index (BXD) up 9c to 258.37, compared to its 50-day moving average of 254.23. cboe.com/micro/bxd/

CBOE Volatility Index (VIX) down 23c to 14.57. VIX March 15, 16 and 20 calls are active at CBOE on 306K contracts cboe.com/VIX

iPath S&P 500 VIX Short-Term Futures (VXX) recently down 7c to 44.26.

S&P 100 Options (OEX) recently down 74c to $822.10 on the uncertainty of China’s rate of growth.

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