Blogging Options: CBOE Morning Update 3.18.15

Traders patiently awaiting FED minutes and their wording early this afternoon.  FDX with good Quarterly numbers beating estimates by $0.13 but guided full year lower.   USD lower, 10-year 2.02%, overseas markets mixed on light data.  13K VIX Futures trade in early session this morning.  Volatility as an asset class:

FedEx (FDX) is off $2.75 to $172.96 in the preopen on better than expected Q3 results, but sees FY15 EPS $8.80-$8.95 (consensus $8.96). March call option implied volatility is at 52, April is at 22, July and October is at 19; compared to its 26-week average of 22.

Oracle (ORLC) is up $0.88 to $43.75 after reporting solid Q3 results and showing strong momentum across its cloud portfolio, along with constructive trends in the database market. March call option implied volatility of 58, April is at 31, May is at 23, June and September is at 22; compared to its 26-week average of 22.

Adobe (ADBE) is down $3.56 to $76.10 in the preopen on inline Q1 results and projected a less than expected future financial results. March call option implied volatility is at 77, April is at 31, July is at 26; compared to its 26-week average of 27.

CBOE Crude Oil Volatility Index (OVX) at 59.85 compared to its 50-day moving average of 55.40 WTI Crude oil near $42. CBOE.com/OVX

Equity Options Volume @ CBOE; 779,655 calls, 579,485 puts, 1,359,140 total cboe.com

Options expected to be active @ CBOE: FDX ADBE ORCL BABA JBL WSM NKE

CBOE S&P 500 Skew Index (SKEW) at 125.44. 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 95-110 Collar Index CLL @ 672.55: www.cboe.com/CLL

CBOE S&P 500 BuyWrite Index (BXM) at 1090.13, compared to its 50-day moving average of 1080.73. cboe.com/bxm

CBOE DJIA BuyWrite Index (BXD) at 267.67, compared to its 50-day moving average of 265.09.  cboe.com/micro/bxd/

‏CBOE Nasdaq-100 Volatility Index (VXN) at 16.60, compared to its 50-day moving average of 17.83

CBOE S&P 500 Short-Term Volatility Index (VXST) at 16.71, compared to its 50-day moving average of 15.86.

VXST is a market-based gauge of expectations of 9-day stks.co/r0CS2

Velocity Share VIX Short Term ETN (VIIX) at 36.88, compared to 50-day moving average of 42.25.

iPath S&P 500 VIX Short-Term Futures (VXX) is recently up 35c to 27.65

CBOE Volatility Index (VIX) at 15.66, compared to its 50-day moving average of 16.96 cboe.com/VIX

SPDR S&P 500 ETF Trust (SPY) is recently down 71c to $207.25 as the FOMC interest rate policy release.

Calls with increasing volume at CBOE:

EEM  3/20/2015 39.50 35K contracts
HTZ   3/20/2015     23 20K
SPY    3/20/2015  212 16K
AAPL 3/20/2015   127  8K

Puts with increasing volume at CBOE:

RIG    5/15/2015  10 25K contracts
HTZ   6/19/2015  19 16K
EWW 4/17/2015  55 12K
SPY    3/20/2015 207  9K