Blogging Options: CBOE Morning Update 4.16.14

Housing Starts with a slight miss, economic news out of China somewhat murky.  After yesterdays wild ride, overseas markets higher, as are US futures. Industrial Production and Cap Use released shortly.  Options Expiration tomorrow with Good Friday trading holiday.

Volatility as an asset class

Yahoo! (YHOO) is up $2.49 to $36.80 in the premarket after reporting Q1 EPS of $0.38, $0.01 better than the analyst estimates. Also, Alibaba, the fast growing e-commerce giant in which Yahoo owns a 24% stake, said revenue surged 66% year-over-year to $3B. April call option implied volatility is at 76, May is at 46, June is at 39; compared to its 26-week average of 35.

Intel (INTC) is down $0.07 to $26.70 after reporting a 4.8% decline in Q1 profit. April call option implied volatility is at 41, May is at 21, June and October is at 19; compared to its 26-week average of 21.

Bank of America (BAC) is down $0.16 to $16.24 in the premarket, Q1 earnings hurt by resolving more mortgage issues. Overall option implied volatility of 26 is at its 26-week average.

Options expected to be active @ CBOE: BAC TWTR YHOO INTC FB PLUG GE TSLA

CBOE S&P 500 PutWrite Index (PUT) at 1396.30, compared to its 10-day MA of 1399.52 and its 50-day moving average of 1391.08. cboe.com/PUT

CBOE S&P 500 BuyWrite Index (BXM) at 1036.96, compared to its 10-day moving average of 1039.70 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 257.98, compared to its 50-day moving average of 256.09 cboe.com/micro/bxd/

CBOE S&P 500 Short-Term Volatility Index (VXST) at 15.03, compared to its 10-day moving average of 14.62. VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2

iPath S&P 500 VIX Short-Term Futures (VXX) is recently down 65c to 43.27

CBOE Volatility Index (VIX) at 15.61, compared to its 10-day moving average of 14.93 and its 50-day moving average of 14.93 cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is up 1.16 to $185.36 on China’s GDP growth slowed to its lowest level in 18 months in Q1, moderating to 7.4% on year from 7.7% in Q4 but topping forecasts for 7.3%

Calls with increasing volume at CBOE:

MSFT 7/19/2014 45 26K contracts
XLK    6/21/2014  38   25K
MU    7/19/2014  27   24K
XLF    6/21/2014  22  17K
SPY    4/19/2014 184 16K
QQQ 4/19/2014    85 13K
IWM  4/19/2014  110 11K
PBR   4/19/2014   14 10K

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