Blogging Options: CBOE Morning Update 5.21.14

Target missed and guided lower, up fractionally (off~3% yesterday). Hormel down $1.85 as revenue & earnings a little light, unlike Spam.  Fed minutes released this afternoon will be sliced & diced by traders and investors.  VIX Settlement price posted shortly.  Volatility as an asset class:

Netflix (NFLX) is up $3.74 to $375.41 in the premarket after announcing plans to significantly expand in Europe later this year, offering a wide-range of entertainment for a low monthly price in Germany, Austria, Switzerland, France, Belgium and Luxembourg. May weekly call option implied volatility is at 52, June is at 38, August is at 43; compared to its 26-week average of 43.

Salesforce.com (CRM) is up $0.50 to $53.38 after posting Q1 revenue growth of 37% and forecasts Q2 results better than expected. May weekly call option implied volatility is at 75, June is at 37, August is at 39; compared to its 26-week average of 34.

Intuit (INTU) is down $3.54 to $73.30 in the premarket after reporting Q3 results and providing Q4 guidance below analyst estimates.  June call option implied volatility is at 21, July and January is at 19; compared to its 26-week average of 21.

CBOE Interest Rate 5 Year Note (FVX) is at 15.06 into the release of Federal Reserve minutes from April meeting

Options expected to be active @ CBOE: NOK ADI CRM BBY AZN FB INTU TGT HRL

CBOE S&P 500 BuyWrite Index (BXM) at 1065.36, compared to its 10-day moving average of 1062.90 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 264.47, compared to its 50-day moving average of 260.19 cboe.com/micro/bxd/

CBOE S&P 500 Short-Term Volatility Index (VXST) at 12.21, compared to its 10-day moving average of 11.71. VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2

iPath S&P 500 VIX Short-Term Futures (VXX) up 5c to 35.84

CBOE Volatility Index (VIX) closed at 12.96, compared to its 10-day moving average of 12.72 and its 50-day moving average of 14.07 cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is recently up 24c to $187.79 as the yen rose against the dollar after the Bank of Japan reduced expectations of further stimulus.

Calls with increasing volume at CBOE:

IWM 6/21/2014 112 8K contracts
SPLS 6/21/2014 12 7K
NEE 6/21/2014 97.50 7K
EMC 7/19/2014 26 7K
SPY 5/23/2014 188 7K
RSH 10/18/2014 1.50 6K
KMI 12/20/2014 37.50 6K