Blogging Options: CBOE Morning Update 4.29.14

Overseas markets show Asia lower and European shares higher. MRK (up $0.50) beat expectations.  AAPL bond deal could approach $20 billion, details released later today.  Ukraine unrest overhangs world markets.  Volatility as an asset class:

Herbalife (HLF) is up $1.15 to $mixed to 60.00 in the premarket after the multi-level marketer reported Q1 results and announced that it would suspend its quarterly dividend and use its cash to repurchase up to $581M worth of stock in Q2. May weekly call option implied volatility is at 92, June is at 60, August is at 63; compared to its 26-week average of 56.  20

Buffalo Wild Wings (BWLD) is higher by $6.42 to $139.80 after Q1 earnings and sales beat expectations and the company raised its fiscal 2014 earnings growth expectations.  May call option implied volatility is at 40, June is at 35, September is at 34; compared to its 26-week average of 33.

3D Systems (DDD) is down 2.26 to $46.80 after reporting inline Q1 results and reaffirming 2014 revenue view. May weekly call option implied volatility is at 102, June is at 57, August is at 54; compared to its 26-week average of 55.

Options expected to be active @ CBOE: NOK S MGM HLF LNKD EBAY YELP BWLD

CBOE S&P 500 BuyWrite Index (BXM) at 1052.53, compared to its 10-day moving average of 1047.92 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 261.42, compared to its 50-day moving average of 258.02 cboe.com/micro/bxd/

CBOE S&P 500 Short-Term Volatility Index (VXST) at 14.08, compared to its 10-day moving average of 13.56. VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2

iPath S&P 500 VIX Short-Term Futures (VXX) down 34c to 40.62

CBOE Volatility Index (VIX) at 13.97, compared to its 10-day moving average of 14.03 and its 50-day moving average of 14.50 cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is recently up 85c to $187.72 into the start of a two-day meeting of the FOMC today.

Calls with increasing volume at CBOE:

BAC 5/17/2014 16 18K contracts
S 5/17/2014 8 11K
AAL 5/17/2014 40 11K
BAC 5/2/2014 15 10K
AIG 7/19/2014 55 9K
AAPL 5/2/2014 600 9K
SPY 5/2/2014 188 8K