Blogging Options: CBOE Mid-day Update 4.8.14

Volatility as an asset class

Nokia (NOK) is recently up 42c to $7.64 after a deal to sell substantially all of its Devices & Services business to Microsoft (MSFT) received regulatory approval in China. Overall option implied volatility of 50 is above its 26-week average of 43.

Ctrip.com (CTRP) is recently up $4.40 to $54.67 after Bloomberg said the Chinese travel website operator was in talks on a range of possibilities, from a partnership to a full merger. April call option implied volatility is at 69, May is at 74, June is at 63; compared to its 26-week average of 56.

Gigamon (GIMO) is recently down $8.33 to $17.87 after the company lowered its Q1 revenue outlook largely based on an expected large transaction from an existing customer in EMEA that did not occur.  April call option implied volatility is at 75, May is at 72, July is at 65; compared to its 26-week average of 52.

Actives @ CBOE:  AAPL TSLA PBR AMZN NFLX C MGM CLF AA VLO

High option volume stocks: VIAB SA CMCSK OHRP SA SOCL SPLK NOK CSOD

CBOE S&P 500 Short-Term Volatility Index (VXST) down $1.20 to 14.88, compared to its 10-day moving average of 13.99. VXST is a market-based gauge of expectations of 9-day volatility cboe.com/vxst

CBOE DJIA BuyWrite Index (BXD) up 69c to 257.84, compared to its 50-day moving average of 255.19. cboe.com/micro/bxd/

CBOE Volatility Index (VIX) down 57c to 15. VIX April 15, 16, 17 & 20 calls are active at CBOE on 242K contracts cboe.com/VIX

iPath S&P 500 VIX Short-Term Futures (VXX) recently down 52c to 42.30.

CBOE DJIA Volatility Index (VXD) down 2.3% to 14.17; compared to its 50-day moving average of 14.55.

CBOE Nasdaq-100 Volatility Index (VXN) down 4% to 19.24; compared to its 50-day moving average of 17.

S&P 100 Options (OEX) recently down $6.24 to $818.36 as the market moves up on a the losing streak that began late last week.