Blogging Options: CBOE Mid-day Update 5.23.14

Volatility as an asset class

GameStop (GME) is recently up $2 to $38.88 after the multichannel video game retailer reported better than expected Q1 profits and backed its fiscal 2014 guidance. June call option implied volatility is at 34, July is at 35, October is at 38; compared to its 26-week average of 41.

FireEye (FEYE) is recently up 93c to $33.21 after Barclays upgraded the enterprise security company to Overweight from Equalweight with a price target of $40. June weekly call option implied volatility is at 68, July is at 67, September is at 68; compared to its 26-week average of 68.

St. Joe Company (JOE) is recently up $1.79 to $23.38 after Raymond James upgraded the Florida land developer to Outperform with a price target of $25. June call option implied volatility is at 27, July and September is at 25; compared to its 26-week average of 28.

Actives at CBOE:  AAPL TSLA NFLX FB HPQ TSLA TWTR GILD AMZN FB SINA CRM

Stocks with increasing volume @ CBOE: JOE CBS GRPN MCP DTV WY WAT DNR MTZ ADES LPX ABB

CBOE S&P 500 Short-Term Volatility Index (VXST) down -0.9% to 10.18; compared to its 10-day moving average of 11.16. VXST is a market-based gauge of expectations of 9-day volatility stks.co/r0CS2

CBOE DJIA BuyWrite Index (BXD) up 0.2% 265.58, compared to its 50-day moving average of 260.64. cboe.com/micro/bxd/

CBOE Volatility Index (VIX) down 2.7% to 11.70. VIX June 13, 16, 20 & 21 calls active on 291K contracts @ CBOE cboe.com/VIX

iPath S&P 500 VIX Short-Term Futures (VXX) down 25c to 34.89.

CBOE DJIA Volatility Index (VXD) down 2.2% to 10.84; compared to its 50-day moving average of 13.01.

CBOE Nasdaq-100 Volatility Index (VXN) down 3% to 13.77; compared to its 50-day moving average of 17.50

S&P 100 Options (OEX) recently up $2.46 to $841.90 on a healthy gain in new home sales.