April Non-Farm Payroll rises 288k (203k March), Jobless Rate at 6.3% (6.6% consensus). Participation Rate 62.8% (63.2% March). Hourly Earnings flat. DJIA futures up only 20 points as participation Rate and Earnings component drag on what should have been a well received number. Volatility as an asset class:
LinkedIn (LNKD) is down $3.32 to $157.90 in the premarket after the professional networking site reported Q1 earnings that beat expectations, but guided to fiscal 2014 revenues that were lower than analysts’ current forecasts. May call option implied volatility is at 67, June is at 51 and August is at 49; compared to its 26-week average of 44.
Expedia (EXPE) is down $1.37 to $72.50 despite reporting top and bottom line results that were slightly better than expected. May call option implied volatility is at 94, June is at 47, July is at 45, October is at 40; compared to its 26-week average of 35.
Akamai (AKAM) is up $1.47 to $56.00 in the premarket after reporting adjusted profit and revenue that beat expectations. May call option implied volatility is at 55, June is at 44, November is at 38; compared to its 26-week average of 36.
CBOE Interest Rate 5 Year Note $FVX @ 16.53 into April job data report. 5-year future rose from 1.66% to 1.74% aftet Employment report.
Options expected to be active @ CBOE: AZN PFE MRK NTRI WYNN SKUL DVA
CBOE S&P 500 BuyWrite Index (BXM) at 1057.32, compared to its 10-day moving average of 1053.41 cboe.com/BXM
CBOE DJIA BuyWrite Index (BXD) at 262.67, compared to its 50-day moving average of 258.48 cboe.com/micro/bxd/
CBOE S&P 500 Short-Term Volatility Index (VXST) at 12.58, compared to its 10-day moving average of 13. VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2
iPath S&P 500 VIX Short-Term Futures (VXX) down 21c to 40
CBOE Volatility Index (VIX) at 13.25, compared to its 10-day moving average of 13.47 and its 50-day moving average of 14.45 cboe.com/VIX
SPDR S&P 500 ETF Trust (SPY) is up 0.28 (was up 0.14 before NFP #) to $188.61 as Eurozone manufacturing PMI increased to 53.4 in April from 53 in March and Eurozone unemployment remained at a high rate of 11.8% in March.
Calls with increasing volume at CBOE:
WAG 7/19/2014 67.50 40K contracts
S 6/21/2014 9 16K
BAC 7/19/2014 16 13K
FB 5/17/2014 65 10K
PFE 1/17/2015 34 10K
ANR 1/17/2015 7 10K
SPY 5/2/2014 188 9K
TEVA 6/21/2014 52.50 9K