Blogging Options: CBOE Morning Update 5.20.14

Slow morning.  Asian shares higher, Europe lower.  Metals and Oil fractionally lower, 10-year up slightly.   DKS missed on earnings and revenue, off $8. TJX also missed, lower by $2.  May Volatility complex settles tomorrow, today last day to trade volatility options and futures.   Volatility as an asset class:

Home Depot (HD) is down $0.73 to $75.77 in the premarket on less than expected Q1 results and guidance. May weekly call option implied volatility is at 47, June is at 24, August is at 19; compared to its 26-week average of 19.

Clovis Oncology (CLVS) is up $4.23 to $61 after the FDA grants Breakthrough Therapy designation for CO-1686, a lung cancer treatment. Overall option implied volatility of 88 is above its 26-week average of 72.

Urban Outfitters (URBN) is down $1.57 to $34.60 in the premarket after reporting Q1 profit declined 20%. June call option implied volatility is at 39, September and December is at 28; compared to its 26-week average of 28.

VIX methodology for Apple $VXAPL @ 20.18, below 50-day MA of 21.11 into June 2 record date for 7-for-1 stocks split.  cboe.com/VXAPL

Options expected to be active @ CBOE: ARX VOD URBN HD LOW SPLS JCP CS FB TJX DKS VIX

CBOE S&P 500 BuyWrite Index (BXM) at 1068.24, compared to its 10-day moving average of 1061.89 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 264.63, compared to its 50-day moving average of 260.09 cboe.com/micro/bxd/

CBOE S&P 500 Short-Term Volatility Index (VXST) at 11.01, compared to its 10-day moving average of 11.81. VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2

iPath S&P 500 VIX Short-Term Futures (VXX) down 13c to 35.98

CBOE Volatility Index (VIX) closed at 12.42, compared to its 10-day moving average of 12.81 and its 50-day moving average of 14.09 cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is off $0.07  to $188.67 after U.S. equities rose for two-days.

Calls with increasing volume at CBOE:

DOW 5/23/2014  50.50 10K contracts
WAG 6/21/2014   72.50 10K
EPI   7/19/2014    21   10K
IP      1/17/2015    50    8K
XLF  6/21/2014   22    6K
HD   6/21/2014   80    6K
DIA  6/21/2014  167    6K
WWE 6/21/2014 12.50 5K
VXX 6/21/2014 50 5K