Blogging Options: CBOE Mid-day Update 3.17.14

Volatility as an asset class

Hertz (HTZ) is recently up $1.32 to $27.29 after Financial Times says the company is nearing a spin-off of its construction equipment rental business. March call option implied volatility is at 78, April is at 46, June is at 39; compared to its 26-week average of 38.

VeriSign (VRSN) is recently down $3.79 to $51.05 after the National Telecommunications and Information Administration said it intends to transition key Internet domain name functions. March call option implied volatility is at 32, April is at 26, May and June is at 27; compared to its 26-week average of 23.

SINA (SINA) is recently up $4.71 to $69.29 after filing preliminary prospectus to raise up to $500M in U.S. IPO of Weibo unit. March call option implied volatility is at 57, April is at 51, May is at 54 and June is at 51; compared to its 26-week average of 53.

Actives @ CBOE:  AAPL SIRI TSLA TWTR AMZN GOOG C FB RIG

Options with increasing volume @ CBOE: REN TXN HTZ SWC SIMG IPXL VRSN MEET PTEN JRJC

CBOE S&P 500 Short-Term Volatility Index (VXST) down 4.46 to 16.18, compared to its 10-day moving average of 14.66. VXST is a market-based gauge of expectations of 9-day volatility cboe.com/vxst

CBOE DJIA BuyWrite Index (BXD) up 2.23 to 258.35, compared to its 50-day moving average of 254.32. cboe.com/micro/bxd/

CBOE Volatility Index (VIX) down 2.26 to 15.56. VIX March 15, 16, 18, 20 and 22 calls are active at CBOE on 659K contracts cboe.com/VIX

iPath S&P 500 VIX Short-Term Futures (VXX) recently down 2.17 to 45.23.

S&P 100 Options (OEX) recently up 8.98 to $818.94 amid better than expected industrial production data at home and relief that there was no violence despite Crimeans voting in favor of leaving Ukraine.