Blogging Options: CBOE Morning Update 10.29.14

Stocks mixed to modestly higher as FOMC minutes to be released early this morning.  Volatility as an asset class

Facebook (FB) is down $4.37 to $76.35 following the company’s warning of a dramatic increase in spending in 2015 and projected slowdown in revenue growth this quarter. Facebook October weekly call option implied volatility is at 103, November is at 48, December is at 36, March is at 35; compared to its 26-week average of 38.

U.S. Steel (X) is  up $3.00 to $41.15 after reporting better than expected Q3 EPS. Overall option implied volatility of 64 is above its 26-week average of 35.

Wynn Resorts Ltd (WYNN) is up $3.85 to $189.55 after declaring a special dividend of $1.00 per share. Raising its quarterly dividend 20% to $1.50 per share and reporting better than expected Q3 results. October weekly call option implied volatility is at 57, November is at 32, December is at 29, January is at 26; compared to its 26-week average of 31.

CBOE Interest Rate 5 Year Note FVX @ 15.02 into Federal Reserve policy meeting decision.

Options expected to be active @ CBOE:  FB X GILD LNKD PNRA MAR ESRX

CBOE Crude Oil Volatility Index (OVX) at 30.11, compared to its 50-day moving average of 23.05 WTI Crude oil trades near $82. CBOE.com/OVX

CBOE S&P 500 Skew Index (SKEW) at 125.35, compared to its 50-day moving average of 130.40. 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 1067.74 compared to its 10-day moving average of 1053.01 cboe.com/BXM

CBOE DJIA BuyWrite Index (BXD) at 261.87 compared to its 50-day moving average of 265.74 cboe.com/micro/bxd/

‏CBOE Nasdaq-100 Volatility Index (VXN) at 17.94; compared to its 50-day moving average of 16.67.

CBOE 3-Month Volatility Index (VXV) at 16.60, compared to its 50-day moving average of 16.74 cboe.com/VXV

CBOE S&P 500 Short-Term Volatility Index (VXST) at 14.39, compared to its 10-day moving average of 20.09. VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2

Velocity Share VIX Short Term ETN (VIIX) at 41.23; above 50-day moving average of 41.43

iPath S&P 500 VIX Short-Term Futures (VXX) is up 24c to 30.74.

CBOE Volatility Index (VIX) at 14.39, compared to its 10-day moving average of 18.90 and its 50-day moving average of 15.21. cboe.com/VIX

CBOE Mini-SPX options (XSP) at 198.50, has weekly expirations CBOE.com/tradeXSP

S&P 500 Weekly Options (SPXW) closed at 19.85.05 CBOE.com/SPXW

SPDR S&P 500 ETF Trust (SPY) is up $0.65 going into the FOMC open market statement.

Calls with increasing volume at CBOE:

EEM   11/22/2014    44    30K contracts
SPY    10/31/2014  200   10K
IWM  11/22/2014  112   10K
WMT 11/22/2014 77.50 10K
AAPL 10/31/2014  106    7K
BMY    1/17/2015    55    7K