Blogging Options: CBOE Mid-day Update 5.19.14

Volatility as an asset class

3M Company (MMM) is recently up 79c to $141.91 after saying the company is on track to deliver 2013-2017 organic revenue growth of 4%-6% and deliver 2013-2017 free cash flow conversion of approximately 100%. June, July and October call option implied volatility is at 12; compared to its 26-week average of 16.

Campbell Soup (CPB) is recently down 83c to $44.27 after revenues miss expectations. June call option implied volatility is at 16, August and November is at 15; compared to its 26-week average of 20.

InterMune (ITMN) is recently up $4.97 to $39.26 after reporting results from Phase 3 ASCEND study evaluating pirfenidone and shares upgraded to Outperform at Leerink. June call option implied volatility is at 66, July is at 61, October is at 55; compared to its 26-week average of 77.

Actives at CBOE:  AAPL TSLA NFLX C TWTR T BAC MNKD C HD FB

Stocks with increasing volume @ CBOE: KGC DOW TIVO GFI CRK ADTN EMN AFFX DB THOR TWX

CBOE S&P 500 Short-Term Volatility Index (VXST) up 0.1% to 11.01; compared to its 10-day moving average of 11.01. VXST is a market-based gauge of expectations of 9-day volatility stks.co/r0CS2

CBOE DJIA BuyWrite Index (BXD) at 264.66, compared to its 50-day moving average of 260.09. cboe.com/micro/bxd/

CBOE Volatility Index (VIX) down 1% to 12.32. VIX May 14 calls & May 13 puts active on 154K contracts @ CBOE  cboe.com/VIX

iPath S&P 500 VIX Short-Term Futures (VXX) down 41c to 36.13.

CBOE DJIA Volatility Index (VXD) up 0.7% to 11.47; compared to its 50-day moving average of 13.24.

CBOE Nasdaq-100 Volatility Index (VXN) down 1.5% to 15.02; compared to its 50-day moving average of 17.63

S&P 100 Options (OEX) recently up $2.88 to $835.24 as small cap Russell 2000 index (IWM) rose 1% to 110.66.