PG Earnings beat but revenues light. Apple earnings after the close. Overseas markets watching earnings and rhetoric in Ukraine. Volatility as an asset class
Delta Air (DAL) is up $1.63 to $36.58 in the premarket after reporting Q1 EPS 33c, compared to consensus 29c. April weekly call option implied volatility is at 46, May is at 39, June and September is at 35; compared to its 26-week average of 35.
Boeing (BA) is higher by $3.22 to $130.77 after reporting Q1 core EPS $1.76, consensus $1.56. April weekly call option implied volatility is at 42, May is at 22, June and August is at 21; compared to its 26-week average of 23.
Biogen (BIIB) is up $6.80 to $313 on Q1 profit rising 12% on better than expected revenue growth. May call option implied volatility is at 43, July and October is at 38; compared to its 26-week average of 38.
Gilead (GILD) is also up $2.55 to $75.42 in the premarket after reporting nearly $2.3B in Q1 sales for its new hepatitis C treatment Sovaldi. April weekly call option implied volatility is at 65, May is at 40, June is at 34, August is at 33; compared to its 26-week average of 34.
Options expected to be active @ CBOE: VZ EMC JNPR DAL ZNGA T BA PLUG FB AAPL BIIB GILD AMGN CREE
CBOE S&P 500 PutWrite Index (PUT) at 1415, compared to its 10-day MA of 1400.74 and its 50-day moving average of 1397.34. cboe.com/PUT
CBOE S&P 500 BuyWrite Index (BXM) at 1053.82, compared to its 10-day moving average of 1041.30 cboe.com/BXM
CBOE DJIA BuyWrite Index (BXD) at 261.62, compared to its 50-day moving average of 257.29 cboe.com/micro/bxd/
CBOE S&P 500 Short-Term Volatility Index (VXST) at 12.51, compared to its 10-day moving average of 14.30. VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2
iPath S&P 500 VIX Short-Term Futures (VXX) up 10c to 40.99
CBOE Volatility Index (VIX) at 13.19, compared to its 10-day moving average of 14.73 and its 50-day moving average of 14.57 cboe.com/VIX
SPDR S&P 500 ETF Trust (SPY) is down 18c to $187.70 as China’s manufacturing sector has contracted for a fourth consecutive month in April.
Calls with increasing volume at CBOE:
SPY 5/17/2014 188 23K contracts
HD 5/17/2014 82.50 20K
VVUS 9/20/2014 6 16K
FB 5/17/2014 60 11K
HD 5/17/2014 80 10K
NLY 5/17/2014 12 10K