CBOE Mid-Day Update 7.30.14

Volatility as an asset class

US Steel (X) is recently up $5.36 to $33.03 on a less than expected Q2 loss. August call option implied volatility is at 36, September and January is at 30; compared to its 26-week average of 34.

Hess (HES) is recently up $2.05 to $101.47 after reporting better than expected Q2 adjusted EPS, boosting its share buyback and announcing its intention to pursue the formation and initial public offering of a master limited partnership. August call option implied volatility is at 17, September is at 16, January is at 18; compared to its 26-week average of 22.

Buffalo Wild Wings (BWLD) is recently down $23.99 to $143.01 on strong Q2 results, but its earnings forecast fell short of street expectations.  August call option implied volatility is at 32, September and December is at 30; compared to its 26-week average of 32.

CBOE Interest Rate 5 Year Note (FVX) is recently up 5.3% to 17.73, above 50-day MA of 16.52 into Fed concluding its 2-day FOMC

Actives at CBOE:  AAPL TWTR AMZN NFLX FB TSLA YHOO WFM NFLX C

Stocks with increasing volume @ CBOE: MTL NQ RFMD S X EXAM ASML TQNT NFX RFMD RATE BPI GALT

CBOE S&P 500 Short-Term Volatility Index (VXST) is recently up 89c to 14.36; compared to its 10-day moving average of 12.61. VXST is a market-based gauge of expectations of 9-day volatility stks.co/r0CS2

CBOE DJIA BuyWrite Index (BXD) down 65c to 269.14, compared to its 50-day moving average of 268.07.  cboe.com/micro/bxd/

CBOE Volatility Index (VIX) up 57c to 13.85. VIX August 16 and 25 calls are active on 280K contracts @ CBOE cboe.com/VIX

iPath S&P 500 VIX Short-Term Futures (VXX) up 17c to 28.80.

CBOE DJIA Volatility Index (VXD) up 52c to 13.08; compared to its 10-day moving average of 12.07.

CBOE Nasdaq-100 Volatility Index (VXN) up 14c to 14.34; compared to its 50-day moving average of 13.42.

S&P 100 Options (OEX) recently is recently down 72c to $875.86 following after a much better than expected reading on Q2 economic growth in the U.S. and ahead of a statement from the Federal Reserve following its latest policy meeting.