O’Blogging Options: CBOE Morning Update 3.17.14

Top O’ the Morning to You!  Stock futures higher, as talking heads this morning say that Crimean vote was priced into market.  With no tanks rolling European shares firm, but Asian stocks mixed.  11,400 VIX Futures trade in early session, after ~349k trade last Friday.  Empire State Mfg. up slightly.  Start work on your brackets.

Volatility as an asset class

JA Solar (JASO) is up $1.73 to $13.15 in the premarket on better than expected Q4 results. Overall option implied volatility of 73 is above its 26-week average of 67.

SPDR Gold Trust (GLD) is down $0.28 to $132.90 as gold trades near a six-month high. Overall option implied volatility of 17 compares to its 26-week average of 19.

Yahoo (YHOO) is up $1.34 to $38.85 in the premarket as Alibaba Group confirmed plans for a U.S. IPO. Overall option implied volatility of 38 is above its 26-week average of 35.

Options expected to be active @ CBOE:  PLUG JASO YHOO FCEL FB GFI ALU

CBOE S&P 500 PutWrite Index (PUT) at 1393, above its 10-day MA of 1400.21 and its 50-day moving average of 1373.67. cboe.com/PUT

CBOE S&P 500 BuyWrite Index (BXM) at 1042.94, compared to its 50-day moving average of 1025.84 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 256.16, compared to its 50-day moving average of 254.26 cboe.com/micro/bxd/

CBOE Interest Rate 5 Year Note (FVX) at 15.28 into 1st Federal Reserve monetary policy meeting chaired by Janet Yellen‏

CBOE S&P 500 Short-Term Volatility Index (VXST) at 20.64, compared to its 10-day moving average of 14.67. VXST is a market-based gauge of expectations of 9-day volatility cboe.com/vxst

CBOE S&P 500 Short-Term Volatility Index up 62% last week.

iPath S&P 500 VIX Short-Term Futures (VXX) is down 1.20 to 46.17 in the premarket.

CBOE Volatility Index (VIX) at 17.82, compared to its 10-day moving average of 14.98 and its 50-day moving average of 14.85 cboe.com/VIX

VIX up four of last five sessions, up 30% for year.

SPDR S&P 500 ETF Trust (SPY) is up $0.78 to $185.44 after the overwhelming majority of Crimeans Sunday voted to secede from Ukraine and join Russia.

Calls with increasing volume at CBOE:

SIRI 1/17/2015 4 96K contracts
SPY 5/17/2014 194 29K
BAC 3/22/2014 17 16K