Blogging Options: CBOE Morning Update 7.17.14

Overseas markets reeling after new Russian financial sanctions.  June Housing Starts with a huge miss (by ~125k) and May starts revised lower by 25k not helping stock futures in US.  10-year back below 2.5%.  20k VIX Futures trade i early session.  Volatility as an asset class

eBay (EBAY) is up 60c to $51.30 in the premarket after the e-commerce company reported an inline Q2 and offered a cautious outlook.  July call option implied volatility is at 49, August is at 23, October is at 22; compared to its 26-week average of 27.

SanDisk (SNDK) is down $10.33 to $97.50 after the flash memory maker Q2 revenues rose 4.6%. July call option implied volatility is at 79, August is at 38, October is at 34; compared to its 26-week average of 30.

Las Vegas Sands (LVS) is down $1.80 to $72.70 in the premarket after the casino and resort operator reported a Q2 profit increase of 27%. July call option implied volatility is at 58, August is at 27, September is at 25, December is at 24; compared to its 26-week average of 28.

Options expected to be active @ CBOE: MS BAX MU TWX FOXA BHI SAP UNH DRC SCSS LVS SNDK EBAY BX TWTR MU TWX FOXA BHI SAP

CBOE equity option volume; 1,544,338 call, 770,552 puts. 2,314,890 total CBOE.com

CBOE S&P 500 BuyWrite Index (BXM) at 1089.02, compared to its 10-day moving average of 1085.30 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 270.44, compared to its 50-day moving average of 266.71 cboe.com/micro/bxd/

CBOE S&P 500 Short-Term Volatility Index (VXST) at 10.26, compared to its 10-day moving average of 10.57. 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 72c to 27.99.

CBOE Volatility Index (VIX) closed at 11, compared to its 10-day moving average of 11.55 and its 50-day moving average of 11.83. cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is recently down $1.12 to $196.84 on a more U.S. sanctions imposed on Russia.

Calls with increasing volume at CBOE:

IYR 8/16/2014 73 30K contracts
HPQ 8/16/2014 36 29K
NOK 1/17/2015 8 19K
BAC 8/16/2014 16 17K
INTC 10/18/2014 36 15K
SIRI 1/17/2015 3.50 14K
XOM 8/16/2014 110 13K
PFE 7/19/2014 30 11K
AAPL 7/19/2014 95 10K
ABBV 8/16/2014 57.50 10K