Blogging Options: CBOE Morning Update 7.10.14

VIX Futures trading 50k contracts pre-market tells you one thing:  Overseas markets getting crushed (European stocks off 1% to 2%) on largest bank in Portugal, Espirito Sancto  troubles.  Chinese economic data misses.  Q2 earnings ramp up.  Volatility as an asset class:

Boeing (BA) is down $1.29 to $125.50 in the premarket after aerospace company forecasts demand for 36,770 new planes valued at $5.2T over the next 20 years. Overall option implied volatility of 22 is near its 26-week average of 23.

United Continental (UAL) is up $1.37 to $41.50 on the airliner expects it unit revenue in June quarter to be up 3.5% over a year earlier. July call option implied volatility of 58, September is at 49; above its 26-week average of 42.

Lumber Liquidators (LL) is down $15.52 to $54.97 in the premarket after the flooring retailer cut its full-year outlook. July call option implied volatility is at 88, August is at 59, November is at 49; compared to its 26-week average of 42.

Options expected to be active @ CBOE: LL PBPB VNO FDO WFC COST ZUMZ UAL BA

CBOE S&P 500 BuyWrite Index (BXM) at 1085.08, compared to its 10-day moving average of 1081.94 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 268.87, compared to its 50-day moving average of 266.03 cboe.com/micro/bxd/

CBOE S&P 500 Short-Term Volatility Index (VXST) at 10.48, compared to its 10-day moving average of 10.47. VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2

iPath S&P 500 VIX Short-Term Futures (VXX) is recently up 1.22 to 28.90

CBOE Volatility Index (VIX) at 11.65, compared to its 10-day moving average of 11.33 and its 50-day moving average of 11.97 cboe.com/VIX

CBOE Nasdaq-100 Volatility Index (VXN) 13.22, compared to its 50-day MA 14.22 stks.co/f0TCX

SPDR S&P 500 ETF Trust (SPY) is down $1.76 to $195.35 on weak economic data, Portugal bank concerns and tensions in the Middle East.

Calls with increasing volume at CBOE:

CBS  7/19/2014   80    26K contracts
SPY   9/20/2014  215 25K
EEM 12/20/2014 44  17K
ZNGA 7/19/2014   3  13K
IWM  8/16/2014 121 12K
NRG 1/17/2015   35  12K
FB   7/19/2014     65  11K
MSFT 1/17/2015   40 10K