Blogging Options: CBOE Morning Update 10.23.14

Good earnings reports this morning pushing shares higher, SPY up $1.75 in early trade. . CAT beat, large repurchase in the quarter.  LUV, GM, UAL and Dunkin also beat.  LLY showed revenue beat but earnings missed.  Volatility as an asset class:

Nokia (NOK) is up 68c to $8.61 in the premarket after the telecom-equipment supplier reported net profit $941M compared with a loss in the three months to end-September last year, helped by a large tax gain. Overall option implied volatility of 52 is above its 26-week average of 38.

AT&T (T) is down 50c $34 after lowering its revenue outlook on lower than expected new customer signups. October weekly call option implied volatility is at 35, November is at 16, January is at 14; compared to its 26-week average of 15.

Yelp (YELP) is off $8.22 to $62.01 in the premarket after the business review website company reported weaker than expected active local business accounts in Q3. October weekly call option implied volatility is at 175, November is at 64, December is at 53, January is at 49, February is at 52; compared to its 26-week average of 55.

Options expected to be active @ CBOE: T YELP LLY PBR EWZ MSFT P GM LUV CMCSA CAT JBLU MMM UAL

CBOE Crude Oil Volatility Index (OVX) at 30.68, compared to its 50-day moving average of 21.99. WTI Crude oil trades below $81. CBOE.com/OVX

CBOE S&P 500 Skew Index (SKEW) at 127.04, compared to its 50-day moving average of 130.95. SKEW measures the purchase of out-of-the-money S&P 500 Index puts that require a very large downside move to profit from long put positions. An increase of this index indicates greater expectations for an extreme down move.

CBOE S&P 500 BuyWrite Index (BXM) at 1056.19 compared to its 10-day moving average of 1046.90 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 258.32 compared to its 50-day moving average of 266.27 cboe.com/micro/bxd/

‏CBOE Nasdaq-100 Volatility Index (VXN) at 19.95; compared to its 50-day moving average of 16.38.

CBOE 3-Month Volatility Index (VXV) at 17.64, compared to its 50-day moving average of 16.13 cboe.com/VXV

CBOE S&P 500 Short-Term Volatility Index (VXST) at 18.36, compared to its 10-day moving average of 23.50. VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2

Velocity Share VIX Short Term ETN (VIIX) at 48.12; above 50-day moving average of 41.04.
iPath S&P 500 VIX Short-Term Futures (VXX) is recently down 1.65 to 33.87.

CBOE Volatility Index (VIX) at 17.87, compared to its 10-day moving average of 21.33 and its 50-day moving average of 14.97. cboe.com/VIX

CBOE Mini-SPX options (XSP) at 192.71, has weekly expirations CBOE.com/tradeXSP

S&P 500 Weekly Options (SPXW) closed at 1927.10 CBOE.com/SPXW

SPDR S&P 500 ETF Trust (SPY) is recently up 1.39 to $194.08 as earnings season is
producing better than expected earnings.

Calls with increasing volume at CBOE:
SPY   12/20/2014  210  68K contracts
EWZ    1/17/2015    50  34K
VXX     11/7/2014    40  19K
AAPL 10/24/2014 104  13K
IWM  10/31/2014 113  12K

Puts with increasing volume at CBOE:
IWM  11/22/2014  105  45K contracts
SPY   11/22/2014  184  32K