Category Archives: Blogging Options

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Blogging Options: CBOE Morning Outlook 10.24.14

Ebola in the US takes over the headlines and gets the attention of investors and traders this morning.  Housing starts to be reported 30 minutes after the opening.  Bond yield drops slightly.  Volatility as an asset class: Microsoft (MSFT) is up $1.23 to $46.25 in the premarket after Q1 top and bottom line beats estimates. [...]

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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 [...]

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CBOE Mid-Day Update 10.21.14

Volatility as an asset class Coca-Cola (KO) is recently down $2.53 to $40.76 following earnings that were in line with expectations, but guidance that disappointed. October weekly call option implied volatility is at 27, November is at 16, January is at 14; compared to its 26-week average of 17. Harley-Davidson (HOG) is recently up $3.59 [...]

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Blogging Options: CBOE Morning Update 10.21.14

Several earnings reports at the opening.  MCD is off $0.75 after missing, VZ lower by $0.50, KO down $2.00.  Oil & Gold higher.  US markets open slightly higher.  Ed Tilly welcomed students from Drake School in Chicago to the SPX yesterday after the close.  CBOE is involved in a tutoring program with volunteers from the [...]

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CBOE Mid-Day Update 10.20.14

Volatility as an asset class IBM (IBM) is recently down $12.25 to $169.80 after reporting a 4% decrease in quarterly revenue and no longer expects ‘at least’ $20 operating EPS in 2015. October weekly call option implied volatility is at 31, November is at 20, January is at 19; compared to its 26-week average of [...]

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Blogging Options: CBOE Morning Update 10.20.14

Asian shares looked to lead US markets higher this morning, until disappointing guidance from Big Blue this morning (and earnings of $3.68 versus consensus estimates of ~$4.25). European shares retreated ~1% (unsure of RTGS system being down is connected to the selloff), US futures gave up early gains.  HAL beat and raised it’s dividend.  20K [...]

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CBOE Mid-Day Update 10.17.14

Volatility as an asset class Honeywell (HON) is recently up $3.39 to $89.77 on solid Q3 results and raising FY14 EPS guidance. November call option implied volatility is at 20, December and January is at 19, March is at 20; compared to its 26-week average of 18. Morgan Stanley (MS) is recently up 83c to [...]

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Blogging Options: CBOE Morning Update 10.17.14

US Futures look to open higher, extending yesterday’s afternoon rally.  Asian shares lower overnight, with NIKKEI off 1.4%.  European shares up ~1% to 2%.  Yields rising on US Treasuries as investors calm down. Oil futures higher.  URBN off $4.50 to ~$30 on margin drop,  Big volume at CBOE yesterday. Volatility as an asset class: Google [...]

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CBOE Mid-Day Update 10.16.14

Volatility as an asset class Chesapeake Energy (CHK) is recently up $2.80 to $20.61 after the energy company announced that it sold Marcellus and Utica shale assets to Southwestern Energy (SWN) for $5.375B. October weekly call option implied volatility is at 65, November is at 51, December is at 48; compared to its 26-week average [...]

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CBOE Mid-Day Update 10.15.14

Volatility as an asset class Airline stocks, on a roller coaster ride today, following reports the 2nd nurse infected with Ebola flew a few days ago (Oct 13). The CDC is reaching out to passengers who flew on Frontier Airlines flight 1143 Cleveland to Dallas/Fort Worth Oct. 13. United Continental (UAL) is recently down $2.62 [...]

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CBOE Mid-Day Update 10.14.14

Volatility as an asset class Wells Fargo (WFC) is recently down 55c to $49.65 after reporting in-line Q3 earnings. October call option implied volatility is at 27, November is at 19, January is at 20; compared to its 26-week average of 16. Domino’s Pizza (DPZ) is recently up $6.90 to $82.63 after the company reported [...]

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Blogging Options: CBOE Morning Update 10.14.14

Busy day at CBOE yesterday, as almost 7.5 mm contracts trade.  Volume leaders were SPX and VIX, each exceeding 1 mm contracts with ease.  VIX futures with ~523 k volume came within a whisker of setting a record (~530K).  VIX futures off to a strong start in the early session with volume of 50 K.  [...]

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CBOE Mid-Day Update 10.13.14

Volatility as an asset class Tech stocks share prices have had wide price moment resulting in higher option implied volatility. Facebook (FB) is recently up $1.17 to $60.20. October call option implied volatility is at 40, November is at 47, December is at 40; compared to its 26-week average of 38. Amazon.com (AMZN) is recently [...]

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CBOE Mid-Day Update 10.10.14

Volatility as an asset class CBOE Volatility Index NASDAQ 100 (VXN) recently up 6.2% to 21; compared to its 10-day moving average of 18.68, 50-day moving average of 15.27.  NASDAQ 100 down 0.9%. CBOE DJIA Volatility Index (VXD) is recently down 0.4% to 15.64; compared to 10-day moving average of 14.31, 50-day moving average of [...]

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CBOE Mid-Day Update 10.9.14

Volatility as an asset class Volatility has increased as stocks have hit session lows Russell 2000 (IWM) October call implied volatility is at 23. www.cboe.com/IWM S&P 100 (OEX) October call implied volatility is at 15.  www.cboe.com/OEX S&P 500 Index Options (SPX) October call implied volatility is at 12. www.cboe.com/SPX Russell 2000 Index Options (RUT) October [...]

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CBOE Mid-Day Update 10.8.14

Volatility as an asset class Sears Holdings (SHLD) is recently down $4.40 to $25.90 after Bloomberg says vendor to halt shipments. October weekly call option implied volatility is at 170, October is at 107, November is at 94,  December is at 84, March is at 76; compared to its 26-week average of 54. J.C. Penney [...]

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Blogging Options: CBOE Morning Update 10.8.14

Overseas markets soft this morning, while US futures point to a firm opening.  10-year ~2.355%.  ~19,500 VIX Futures trade in early session.  Alcoa leads off the Q3 earnings season after the close. FOMC Minutes released mid-day.  Tekmira, a pharma stock involved in Ebola trials with active stock activity.  Volatility as an asset class: Yum! Brands [...]

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CBOE Mid-Day Update 10.7.14

Volatility as an asset class General Motors (GM) is recently down $1.59 to $32.16 after recalling 46,873 vehicles from 2008-2013. October weekly call option implied volatility is at 22, October is at 26, November is at 26, December is at 25; compared to its 26-week average of 27. Amazon.com (AMZN) is recently $1.59 to $320.61 [...]

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CBOE Mid-Day Update 10.6.14

Volatility as an asset class Intuitive Surgical (ISRG) is recently up $16.45 to $491.66 after Goldman Sachs upgraded the medical device company to Buy. October weekly call option implied volatility is at 39, October is at 33, November is at 36, January is at 31; compared to its 26-week average of 33. Chimerix (CMRX), up [...]

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Blogging Options: CBOE Morning Update 10.6.14

US stocks add on to gains in early trade.  Overseas markets higher, catching up to US rally Friday.  10-year 2.43%.  DIS spending over $1B to help European subsidiary, is up $0.40 in early trade.  Volatility as an asset class HP (HPQ) is up $2.11 to $37.31 in the premarket after announcing plans to separate into [...]

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Blogging Options: CBOE Morning Update 10.3.14

September Non-Farm Payrolls rose 248K (wide range of estimates, this at the high end).  Unemployment Rate at 5.9% (6.1% August).  August Payrolls revised from 148K to 180K, July revised slightly higher. 10-year up 2 basis points to 2.46%, Gold drops $12, Euro with 125 handle. DJIA Futures look to up 100 point rise on open, [...]

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Blogging Options: CBOE Morning Update 10.2.14

Mr. Draghi keeps ECB rates unchanged.  European and Asian shares lower, oil off 1.5%.  US stock futures mixed to lower after getting hit hard yesterday.  22K VIX Futures change hands in early session after 250K trade yesterday.  US September employment report tomorrow. Volatility as an asset class: CBOE Crude Oil Volatility Index (OVX) at 22.38, [...]

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CBOE Mid-Day Update 10.1.14

Volatility as an asset class General Motors (GM) is recently up 84c to $32.78 after reaffirming near-term financial targets and reporting September U.S. sales up 19.4% to 223,437 vehicles. General Motors weekly volatility elevated into CEO unveiling financial strategy. October weekly call option implied volatility is at 38, October is at 26, November is at [...]

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Blogging Options: CBOE Mid-day Update 9.30.14

Volatility as an asset class Walgreen (WAG) is recently down 51c to $59.09 on Q4 revenue rising 6.2%. October weekly call option implied volatility of 30, October is at 23, November is at 22, January is at 21; compared to its 26-week average of 24. Cintas (CTAS) is recently up $4.98 to %70.95 on Q4 [...]

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Blogging Options: CBOE Morning Update 9.30.14

Window Dressing Day.  EBay and PayPal hog the spotlight this morning and shift focus to tech stocks.  Hong Kong shares off another 1.25% on continued unrest.  BABA options got off to a good start with CBOE trading over 33k of 122k contracts.  Average option volume day yesterday, but VIX futures traded 228k.   Case-Shiller Home [...]

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CBOE Mid-Day Update 9.29.14

Volatility as an asset class Alibaba (BABA) is recently down $1.44 to $89.03. October 90, 95 and 100 calls are active at the CBOE on the first day of options trading. October call option implied volatility is at 38, November is at 39, December is at 38, January is at 37. GoPro (GPRO) is recently [...]

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Blogging Options: CBOE Morning Update 9.26.14

2Q GDP came in as expected at 4.6%.  U of M Sentiment later this morning.  Bill Gross leaving PIMCO has talking heads excited this morning.  Good option volume yesterday as CBOE traded ~6mm of 20mm contracts traded.  BABA expected to begin option trading Monday.  Commodities unchanged in early pre-market trade, Asian shares mixed to lower, [...]

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CBOE Mid-Day Update 9.25.14

Volatility as an asset class CBOE Volatility Index NASDAQ 100 (VXN) recently up 16.8% to 17.81; compared to its 10-day moving average of 15.19, 50-day moving average of 14.28.  NASDAQ 100 down 1.8%. CBOE DJIA Volatility Index (VXD) is recently up 17.4% to 14.10; compared to 10-day moving average of 12.35, 50-day moving average of [...]

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CBOE Mid-Date 9.24.14

Volatility as an asset class Accenture (ACN) is recently down 66c to $78.93 on Q4 profit rising 4.5%. September weekly call option implied volatility is at 22, October weekly is at 16, November is at 13, January is at 15; compared to its 26-week average of 20. KB Homes (KBH) is recently down $1.10 to [...]

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Blogging Options: CBOE Morning Update 9.24.14

US pre-market flat this morning.  Asian stocks mixed to lower, European shares higher.  August Housing Sales out shortly.  BABA gains ~$1 in pre-market.  Several FED Heads giving talks today, first two said somewhat contrary statements but by mid-day we’ll get that sorted out.  Volume on CBOE good yesterday.  Volatility as an asset class: Bed Bath [...]

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CBOE Mid-Day Volatility 9.23.14

Volatility as an asset class Carmax (KMX) is recently down $4.97 to $47.84 after posting sluggish Q2 used unit sales in comparable stores. October call option implied volatility is at 24, January is at 23, April is at 24; compared to its 26-week average of 27. Salix (SLXP) is recently up $8.62 to $168.45 after [...]

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CBOE Mid-Day Update 9.22.14

Volatility as an asset class S&P 100 Options (OEX) recently is recently down 6.17 to 890.94 on weak U.S. existing home sales in August and China finance minister indicating the country will not increase stimulus measures. CBOE Volatility Index (VIX) up 14.8% to 13.90. Oct 20 and November 15 calls active on 129K cboe.com/VIX iPath S&P [...]

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Blogging Options: CBOE Morning Update 9.22.14

Stocks open weaker,  YHOO downgraded by two analysts, off $1.50, despite BABA stake.  BABA lower by $3 on heavy volume.  BABA options tentatively listed next Monday. Existing Home Sales in August drop 1.1% (higher by 0.9% expected) weighing on market.  Volatility as an asset clas:s Dresser-Rand (DRC) is up $2.00 to $81.91 in early trading,  [...]

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CBOE Mid-Day Update 9.19.14

Volatility as an asset class Yahoo (YHOO) is recently down 95c to $41.18 on Alibaba (BABA) going public in a 320.1M share IPO priced at $68.  BABA is recently trading at $92.64.  September weekly call option implied volatility is at 60, October weekly is at 53, October is at 46,  November is at 40, January [...]

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Blogging Options: CBOE Morning Update 9.19.14

Alibaba.  No for Scotland. Triple Witch.  AAPL phone.  Stocks open higher on Scottish vote and follow through to yesterday’s rally. Lots of investors shut out on BABA IPO.  Options on BABA 9/29.  Volatility as an asset class: Yahoo (YHOO) saw profit takers  move the shares to unchanged after being up $0.60 in the pre-market, as [...]

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CBOE Mid-Day Update 9.18.14

Volatility as an asset class Yahoo (YHOO) is recently down 54c to $42.05 into the expected IPO of Alibaba (BABA).  September call option implied volatility is at 98, September weekly is at 77, October weekly is at 63, October is at 50,  November is at 46, January is at 37; compared to its 26-week average [...]

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Blogging Options: CBOE Morning Update 9.18.14

Weekly Housing numbers bullish, but Housing Starts fell ~14%.  European shares higher, election results from Scotland before today’s US close?  Philly FED ay 9am CDT.  Triple Witch this afternoon and tomorrow.  BABA prices after the close today.  Volatility as an asset class Yahoo (YHOO) is up $0.46 to $43.05 in the premarket into the IPO [...]

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Blogging Options: CBOE Morning Update 9.16.14

Producer Prices were flat in August, as expected.  Markets up fractionally in first half-hour of trading.  YHOO off $0.45 as most aware they own ~22% of BABA shares.   Volatility as an asset class: Currency option implied volatility increases into Scotland voting for independence CurrencyShares British Pound Sterling Trust (FXB) overall option implied volatility of 12 [...]

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CBOE Mid-Day Update 9.15.14

Volatility as an asset class Yahoo (YHOO) is recently up 11c to $42.99 into the Alibaba (BABA) offering.  September call option implied volatility is at 56, October weekly is at 55, October is at 50,  November is at 44, January is at 37; compared to its 26-week average of 34. VIX methodology for IBM (VXIBM) [...]

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Blogging Options: CBOE Morning Update 9.15.14

Empire State bounced back as expected, following a sharp drop in the previous month.  Industrial Production fell 0.1% in August (+0.3% expected). Oil down, Gold a little higher; 10-year dips below 2.59%.  Triple Witch, Scottish vote and Alibaba (BABA) should be on the watch list this week.  How ’bout those (Chicago) Bears!  Volatility as an [...]

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CBOE Mid-Day Update 9.11.14

Volatility as an asset class Restoration Hardware (RH) is recently down $3.67 to $78.42 after the high end home retailer reported less than expected Q2 revenue. September call option implied volatility is at 39, October is at 34, November is at 35; compared to its 26-week average of 48. Five Below (FIVE) is recently down [...]

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Blogging Options: CBOE Morning Update 9.11.14

Weekly Claims rose to 315 K, second week in a row above 300 K, highest number in three months and above same number last year. Prety good option day yesterday, as ~17 mm contracts trade. 650K SPX, 560K VIX contracts and 154 K VIX futures trade hands.  Presidents’ speech didn’t impress some traders, Chinese economic [...]

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CBOE Mid-Day Update 9.10.14

Volatility as an asset class Bank of America (BAC) is recently up 8c to $16.22 on seeing reducing branches to 5,000 by end of year. September and October call option implied volatility is at 19, December is at 20; compared to its 26-week average of 23. eBay (EBAY) is recently down $1.62 to $51.11 in [...]

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CBOE Mid-Day Update 9.9.14

Volatility as an asset class Apple (AAPL) is recently up $1.22 to $99.64 into its much-anticipated product launch event. September weekly call option implied volatility is at 56, September is at 35, October is at 31, December is at 25, January is at 24; compared to its 26-week average of 25. VIX methodology for Apple [...]

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Blogging Options: CBOE Morning Update 9.9.14

Overseas markets seeing contagion fears on Scottish independence vote.  Spanish bonds higher, SPX off 7 points, VIX up 0.30 in first 20 minutes.  MCD with huge drop in same-store-sales in Asia off $0.50. Volatility as an asset class Apple (AAPL) up $1 in first half hour of trade to $99.36 into today’s press event. September [...]

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CBOE Mid-Day Update 9.8.14

Volatility as an asset class Apple (AAPL) is recently down 28c to $98.72 into a company sponsored September 9 press event.  September weekly call option implied volatility is at 53, September is at 35, October is at 31, December is at 25, January is at 24; compared to its 26-week average of 25. VIX methodology [...]

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Blogging Options: CBOE Morning Update 9.8.14

Polling in Scotland showed the independence supporters leading for the first time, a week before the election.  Profit taking, unrest in Ukraine, confusing export numbers out of China and UK uncertainty have sent bulls to the corral.  CBOE Risk Management Conference Europe getting nice comments, a recap will be published in this space soon.  Volatility [...]

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CBOE Mid-Day Update 9.5.14

Volatility as an asset class TASER (TASR) is recently up 62c to $18.17 after New York City Police Department Commissioner William Bratton yesterday announced that the department would begin testing two types of body cameras that will allow police officers to record audio and video during their interactions with the public. The two devices that [...]

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CBOE Mid-Day Update 9.4.14

Volatility as an asset class SolarCity (SCTY) is recently up $4 to $71.12 after announcing plans to open 20 new operations centers in seven states. September 12 weekly call option implied volatility is at 44, September is at 45, October is at 46, January is at 49; compared to its 26-week average of 60. BP [...]

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Blogging Options: CBOE Morning Update 9.4.14

ECB cut rates again, 0.15% to 0.05% and the Deposit Rate went from -0.10% to 0.20%.  Cookie jar and mattress sales expected to rise.  US Dollar moved higher against Euro.  ADP private payroll for August showed a gain of 204K jobs, below consensus and the lowest number in six months.  Day 2 of CBOERMC in [...]

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CBOE Mid-Day Update 9.3.14

Volatility as an asset class Market-Vector Russia ETF Trust (RSX) is recently up $1.24 to $24.83 on hopes for a Ukraine conflict resolution. September weekly call option implied volatility is at 31, September is at 27, November is at 25; compared to its 26-week average of 25. Mobileye (MBLY) is recently up $4.39 to $47.41 [...]

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CBOE Mid-Day Update 9.2.14

Volatility as an asset class Norwegian Cruise Line (NCLH) is recently up $3.88 to $37.19 after agreeing to acquire upscale peer Prestige Cruises for $3B. September call option implied volatility is at 28, October and December is at 23; compared to its 26-week average of 27. Under Armour (UA) is recently up $2.02 to $70.39 [...]

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CBOE Mid-Day Update 8.29.14

Volatility as an asset class Tesla Motors (TSLA) is recently up $6.90 to $270.66 as shares trade at a record high on signing an agreement with China Unicom (CHU) to construct 400 charging points in 120 cities at the China’s company’s outlets, according to Bloomberg, citing comments from Tesla spokeswoman Peggy Yang. September weekly call [...]

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Blogging Options: CBOE Morning Update 8.29.14

July Income rose 0.2% and Spending fell 0.1% (+0.3 and +0.2 expected).  Savings rate grew slightly. Two more reports later this morning and then long weekend begins. Train empty on way in. Bonds close early today. Volatility as an asset class Splunk (SPLK) is up $2.91 to $48.20 in the premarket after reporting better than [...]

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CBOE Mid-Day Update 8.28.14

Volatility as an asset class Market-Vector Russia ETF Trust (RSX) is recently down 73c to $24.39 as the Ukraine conflict worsens. September weekly call option implied volatility is at 27, September and October is at 28, November is at 26; compared to its 26-week average of 25. GoPro (GPRO) is recently $2.22 to $47.73, near [...]

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Blogging Options: CBOE Morning Update 8.28.14

Traders are hearing Russian troops have entered Ukraine – or haven’t, depending on whether you are hearing Ukranian, NATO or Russian comments.  On the economic front Weekly Jobless Claims remained under 300k, unchanged from last week.  Q2 GDP first revision showed the economy grew 4.2% (original estimate +4.0%, higher than the 3.9% to 4.0% estimates), [...]

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CBOE Mid-Day Update 8.27.14

Volatility as an asset class Chico’s FAS (CHS) is recently down 57c to 15.45 after the woman’s seasonal merchandise reported a Q2 profit decline of 31% on promotions. September call option implied volatility of is at 27, October is at 26, January is at 27; compared to its 26-week average of 33. Express (EXPR) is [...]

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Blogging Options: CBOE Morning Update 8.27.14

Markets overseas fairly quiet and down fractionally.  Ukraine situation causing flight to safety with US & German Treasuries.  Record highs but light-holiday volume.  10K VIX futures in early session, pretty average volume.  Jackie Robinson West parade in Chicago today, good weather & big crowds expected.  Volatility as an asset class Tiffany (TIF) is up $2.23 [...]

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CBOE Mid-Day Update 8.26.14

Volatility as an asset class Ann Inc.  (ANN) is recently up $2.29 to $42.28 after hiring a bank to explore strategic alternatives, Reuters says. September call option implied volatility is at 35, December is at 32; compared to its 26-week average of 34. Alcoa (AA) is recently up 14c to $16.62 as aluminum trades at [...]

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Blogging Options: CBOE Morning Update 8.26.14

The Durable Goods report is considered a volatile number, and the July report just released didn’t disappoint.  Durable Goods spiked higher by 22.6% (helped by a jump of 318% in non-defense aircraft), X-Aircraft Durables dropped 0.8%, a big miss.  Stock futures didn’t budge, up slightly before the opening.  Option volume yesterday a little light as [...]

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CBOE Mid-Day Update 8.25.14

Volatility as an asset class VIX methodology for IBM (VXIBM) up $1.21 to 14.79; below its 50-day moving average of 18.04. cboe.com/VXIBM VIX methodology for Goldman Sachs (VXGS) up 50c to 18.15; below its 50-day moving average of 18.87. cboe.com/VXGS  VIX methodology for Apple (VXAPL) up 89c to 25.24; below its 50-day moving average of [...]

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Blogging Options: CBOE Morning Update 8.25.14

Overseas markets mixed to higher – DAX up ~1%.  10-year dips below 2.4%, oil higher, metals flat.  Busy day Friday as CBOE trades ~6.6mm of 23.5mm options trading.  SPX traded over 1mm contracts, VIX with 868K and VIX Futures showed ~365k contracts traded.  Parade in Chicago Wednesday for Jackie Robinson Jr. US Championship Little League [...]

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CBOE Mid-Day Update 8.22.14

Volatility as an asset class Green Mountain Coffee (GMCR) is recently up $16.58 to 134.34 on a Kraft Foods (KRFT) licensing agreement.  September call option implied volatility is at 32, December is at 35; compared to its 26-week average of 48. Foot Locker (FL) is recently up $1.58 to $54.15 on Q2 profit increasing 39%.  [...]

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Blogging Options: CBOE Morning Update 8.22.14

Once Ms Yellen speaks we can get on with the summer doldrums.  Russia and Ukraine sabre rattling again giving a soft tone to stock futures.  Volatility as an asset classGameStop Corp. (GME) is up $2.75 to $43.24 in the preopen after reporting Q2 EPS of $0.22, $0.04 better than the analyst estimate of $0.18. Revenue [...]

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CBOE Mid-Day Update 8.21.14

Volatility as an asset class Bank of America (BAC) is recently up 39c to $15.91 on paying a $16.65B settlement with DOJ. August 8/27/14 call option implied volatility of 21, September is at 16, October is at 15; compared to its 26-week average of 23. Auxilium (AUXL) is recently up 63c to $18.40 after announces positive data [...]

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CBOE Mid-Day Update 8.20.14

Volatility as an asset class International Rectifier (IRF) is recently up $12.60 to $39.15 on Infineon Technologies (IFNNY) acquiring for $40 per share in an all-cash transaction valued at approximately $3B. September and October option implied volatility of 17 is below its 26-week average of 34. Staples (SPLS) is recently down 34c to $11.28 after [...]