Blogging Options: CBOE Morning Update 4.22.14

MCD missed on top and bottom line, stock rebounds from initial selloff and is now slightly higher.  HOG with stellar results, up over $4.  It’s earnings season.  .Asian shares mostly higher, but Chinese indices lower. Volatility as an asset class

Netflix (NFLX) is up $25.55 to $374.04 in the premarket after reporting stronger than expected Q1 results and better Q2 guidance. April weekly call option implied volatility is at 126, May is at 67, June is at 51; compared to its 26-week average of 44.

Allergan (AGN) is up $27.60 to $169.20 after Bill Ackman and Valeant Pharmaceuticals (VRX) teamed up to make a bid of $46B for Allergan. Overall option volatility of 30 is near its 26-week average of 29.

Comcast (CMCSA) is up $0.42 to $50.30 after reporting Q1 EPS ex-items 68c, consensus 64c. Overall option implied volatility of 23 is at its 26-week average.

Harley-Davidson (HOG) is up $4.46 to $72 in the premarket after reporting Q1 EPS $1.21, consensus $1.08.  May call option implied volatility is at 34, August is at 23; compared to its 26-week average of 24.

Options expected to be active @ CBOE: GSK LLY NVS VRX AGN NFLX CMCSA BIIB GILD AMGN MCD YUM T HOG PLUG

CBOE S&P 500 PutWrite Index (PUT) at 1412.60, compared to its 10-day MA of 1398.77 and its 50-day moving average of 1396.15. cboe.com/PUT

CBOE S&P 500 BuyWrite Index (BXM) at 1052.02, compared to its 10-day moving average of 1039.55 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 261.12, compared to its 50-day moving average of 257.05 cboe.com/micro/bxd/

CBOE S&P 500 Short-Term Volatility Index (VXST) at 12.99, compared to its 10-day moving average of 14.66. VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2

iPath S&P 500 VIX Short-Term Futures (VXX) up 6c to 41

CBOE Volatility Index (VIX) at 13.25, compared to its 10-day moving average of 14.97 and its 50-day moving average of 14.62 cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is flat at $187.15 as mergers and acquisitions announcements rally European stocks.

Calls with increasing volume at CBOE:

F      7/19/2014     18   20K contracts
C     5/17/2014      50  20K
CHK  6/21/2014   31 20K
NOK  5/17/2014    8 15K
SPY    5/17/2014 192 13K
QQQ 5/17/2014   87 10K
SWK 7/19/2014     85 9K
KBH 5/17/2014 17 9K