10-year fell below 2.48% this morning. DSW disappointed with earnings, off $6.50 to $26. KORS higher by $1. European shares fractionally lower, other markets quiet. Volatility as an asset class:
Qihoo 360 Technology (QIHU) is up $4.52 to $94.50 in the premarket after the Chinese internet company tops Q1 EPS by 3c and guides Q2 Revenues above expectations. May weekly call option implied volatility is at 95, June at 58, September at 57; 26-week average is 62.
Toll Brothers, Inc. (TOL) is up $1.40 to $37.40 after the homebuilder reported Q2 EPS of $0.35, $0.09 better than the analyst estimate of $0.26. Revenue for the quarter came in at $860M versus the consensus estimate of $830M. May weekly call option implied volatility is at 56, June is at 26, September and, December is at 27; compared to its 26-week average of 31.
Workday (WDAY) is up $5.37 to $87.50 in the premarket after the provider of enterprise cloud-based applications for human capital management company reported Q1 EPS of ($0.13), $0.02 better than the analyst estimates. Revenue for the quarter came in at $159M versus the consensus estimate of $152M. June call option implied volatility is at 55, September is at 48, December is at 46; compared to its 26-week average of 44.
Options expected to be active @ CBOE: AGN VRX WDAY KORS QIHU PANW TOL CBRL $VIX
CBOE S&P 500 BuyWrite Index (BXM) at 1075.22, compared to its 10-day moving average of 1067.64 cboe.com/BXM
CBOE DJIA BuyWrite Index (BXD) at 266.31, compared to its 50-day moving average of 260.85 cboe.com/micro/bxd/
CBOE S&P 500 Short-Term Volatility Index (VXST) at 10.65, compared to its 10-day moving average of 11.03. VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2
iPath S&P 500 VIX Short-Term Futures (VXX) down 23c to 33.65
CBOE Volatility Index (VIX) closed at 11.51, compared to its 10-day moving average of 12.21 and its 50-day moving average of 13.74 cboe.com/VIX
SPDR S&P 500 ETF Trust (SPY) is up 30c to $191.82 after another record close.
Calls with increasing volume at CBOE:
SPY 6/21/2014 192 78K contracts
EEM 6/21/2014 43 23K
IWM 6/21/2014 115 16K
Puts with increasing volume at CBOE:
MSFT 6/27/2014 39 17K contracts
SPY 6/21/2014 185 16K
IWM 7/19/2014 110 10k
QQQ 1/17/2015 80 8k