Blogging Optons: CBOE Morning Update 3.12.14

CBOE tweeting Ed Tilly’s and Ed Provost’s comments live from FIA in Florida this morning.   European stocks down 1% plus, NIKKEI off 2.6%, HSI lower by 1.6%, as Chinese economy and Ukraine fill otherwise slow news-day void.  Watch the VIX today,  VIX Futures have traded 11k contracts in pre-session.

Volatility as an asset class

EPL Oil & Gas (EPL) is up $8.89 to $38 in the premarket on Energy XXI (EXXI) agreeing to acquire the Gulf of Mexico oil and gas company for $2.3B. Overall option implied volatility of 40 is near its 26-week average of 41.

VeriFone (PAY) is up $2.75 to $32 after the maker of card-payment systems on a better than expected outlook. Overall option implied volatility of 54 is above its 26-week average of 43.

Geron (GERN) is down $2.72 to $1.70 in the premarket after announcing a IND clinical hold affecting trials of imetelstat.  Overall option implied volatility of 98 is below its 26-week average of 108.

Options expected to be active @ CBOE: GERN GM FCEL BLDP PLUG ULTA KKD PAY EPL EXXI

CBOE S&P 500 PutWrite Index (PUT) at 1402.95, above its 10-day MA of 1399.31 and its 50-day moving average of 1371.09. cboe.com/PUT

CBOE S&P 500 BuyWrite Index (BXM) at 1049.47, compared to its 50-day moving average of 1024.35 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 258.26, compared to its 50-day moving average of 254.18 cboe.com/micro/bxd/

CBOE S&P 500 Short-Term Volatility Index (VXST) at 14.13, 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 up 52c to 44.85 in the premarket.

CBOE Volatility Index (VIX) at 14.80, compared to its 10-day moving average of 14.37 and its 50-day moving average of 14.68 cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is down $0.75 to $186.48 on the uncertainty of China’s rate of growth.

Calls with increasing volume at CBOE:

VALE 6/21/2014 14 20K contracts
PLUG 3/22/2014 10 17K
SPY 3/14/2014 187 14K
FCEL 3/22/2014 3 11K
BLDP 3/22/2014 5 10K
HUN 8/16/2014 25 8K