Blogging Options: CBOE Morning Update 3.19.14

NIKKEI closed higher after trading down 100 points earlier in session, but most of Asia lower.    Europe modestly higher.  FOMC finishes up today (as does CBOE’s Risk Management Conference), Ms. Yellen will talk and continue Taper?   Russia took over another naval base in Ukraine.  10-year 2.685%.

Volatility as an asset class

Oracle (ORCL) is down $1.14 to $37.70 in the premarket after reporting Q3 earnings and revenue that missed expectations, though the company’s Q4 profit outlook was in-line with expectations. March call option implied volatility of 52, April is at 27, June is at 20, September is at 19; compared to its 26-week average of 23.

Nu Skin (NUS) is off $2.19 to $74.50 on the marketer of personal care products said it has received China regulator inquiries. March call option implied volatility is at 84, April is at 66, June is at 64; compared to its 26-week average of 47.

FedEx (FDX) is down $0.10 to $138.47 in the premarket after saying severe winter weather affected its Q3 earnings on lower shipping volumes and raised costs. March call option implied volatility is at 45, April is at 27, July is at 21; compared to its 26-week average of 23.

Options expected to be active @ CBOE: ORCL NOK FDX PLUG OZM GIS FDX VIX

CBOE S&P 500 PutWrite Index (PUT) at 1406.85, above its 10-day MA of 1401.99 and its 50-day moving average of 1375.24. cboe.com/PUT

CBOE S&P 500 BuyWrite Index (BXM) at 1053.11, compared to its 10-day moving average of 1048.94 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 259.12, compared to its 50-day moving average of 254.38 cboe.com/micro/bxd/

CBOE S&P 500 Short-Term Volatility Index (VXST) at 14.23, compared to its 10-day moving average of 14.73. 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 2c to 43.36 in the premarket.

CBOE Volatility Index (VIX) at 14.52, compared to its 10-day moving average of 14.98 and its 50-day moving average of 14.89 cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is recently up 16c to $187.83 ahead of a U.S. Federal Reserve policy decision.

Calls with increasing volume at CBOE:
QQQ 3/22/2014 92 17K contracts
SPY 3/22/2014 189.50 12K
EWJ 9/20/2014 11 11K
COP 4/19/2014 70 10K
HPQ 3/22/2014 30 9K
MSFT 3/22/2014 40 6K