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  • Blogging Options | Trader Talk | Apr 17, 2015, 8:25 AM

    Blogging Options: CBOE Morning Update 4.17.15

    Blogging Options: CBOE Morning Update 4.17.15

    Expiration Friday.  March CPI up 0.2%, Core Rate also up 0.2%, mostly in line.  Several factors pushing US Futures lower this morning.  Problems with Greece and EU persist (European shares off 1.3%), China adjusting margins and allowed short selling in the majority of stocks and as some traders are aware, there have been problems with Bloomberg terminals around the world.  A bond auction in England delayed due to this.   More economic data in first hour of trading. [...]

  • VIX | Blogging Options | Trader Talk | Apr 16, 2015, 11:40 AM

    CBOE Mid-Day Update 4.16.15

    CBOE Mid-Day Update 4.16.15

    Volatility as an asset class Philip Morris (PM)) is recently up $5.91 to $84.05 on better than expected Q1 results and outlook. April call option implied volatility is at 23, May is at 84, June is at 13, September is at 14; compared to its 26-week average of 17. Blackstone (BX) is recently up 81c to $41.84 on the asset manager reporting Q1 profit more than doubling. May and June call option implied volatility is at 18; compared to its 26-week average of 24. BlackRock (BLK) is recently down $6.95[...]

  • VIX | Blogging Options | Trader Talk | Apr 16, 2015, 7:58 AM

    Blogging Options: CBOE Morning Update 4.16.15

    Blogging Options: CBOE Morning Update 4.16.15

    Financial stocks doing well this morning on very good earnings, but markets watching European markets for direction.  DAX off ~1.6%, Oil nearing a 2% drop.  Housing Starts in March with a big miss, Weekly Claims rise. Blackhawks with double-overtime, come-from-behind win (game ended 11:25pm last night) has traders looking a little groggy this morning. VIX Futures with 13,500 contracts traded in extended overnight session.  Watch Europe.  Volatility as an asset class Netflix (NFLX)[...]

  • VIX | Blogging Options | Trader Talk | Apr 15, 2015, 12:00 PM

    CBOE Mid-Day Update 4.15.15

    CBOE Mid-Day Update 4.15.15

    Volatility as an asset class Bank of America (BAC) is recently down 19c to $15.64 after reporting Q1 EPS with items 27c, compared to consensus 29c.  April call option implied volatility is at 26, May and June is at 19; compared to its 26-week average of 24. PNC Financial (PNC) is recently down 96c to $92.66 after reporting Q1 revenue fell 1.2%. April call option implied volatility is at 21, May is at 18, August is at 16; compared to its 26-week average of 19. U.S. Bancorp (USB) is recently up[...]

  • Market News | Blogging Options | Trader Talk | Apr 15, 2015, 7:48 AM

    Blogging Options: CBOE Morning Update 4.15.15

    Blogging Options: CBOE Morning Update 4.15.15

    BAC off fractionally as earnings swing to positive ($5.6B less in legal fees helps) but revenue misses.  DAL up $0.50 but even as earnings met, DAL sees turbulance with dollar ahead. GOOG with EU problems this morning. Several Chinese economic numbers missed overnight.  Oil up ~1%.  Empire State Manufacturing off ~1.2% for April (+6.9% March, +7% expected), New Orders at 2-year low. VIX settlement numbers will be released as they are available this morning.  Beige Book data after[...]

  • Blogging Options | Apr 14, 2015, 8:15 AM

    Blogging Options: CBOE Morning Update 4.14.15

    Blogging Options: CBOE Morning Update 4.14.15

    Q1 earnings started hitting the tape before the open.  JPM up ~$1 on a beat, WFC also reports but earnings didn't hit whisper number.  March Retail Sales up 0.9%, but below 1.1% consensus (X-Auto up 0.4%, +0.7% anticipated).  10-year drops to 1.88%, Crude up ~1%. Last day to trade April VIX, settles tomorrow AM.  Volatility as an asset class: Alcatel-Lucent (ALU) is up $031 to $4.65 in the preopen on Nokia (NOK) confirms it’s in 'advanced discussions' to buy. Overall option[...]

  • VIX | Blogging Options | Trader Talk | Apr 13, 2015, 12:00 PM

    CBOE Mid-Day Update 4.13.15

    CBOE Mid-Day Update 4.13.15

    Volatility as an asset class JP Morgan (JPM) is recently up 43c to $62.13 into the expected release of Q1 results on April 14.  April call option implied volatility is at 29, May is at 18, June and September is at 17; compared to its 26-week average of 20. Wells Fargo (WFC) is recently up 28c to $54.60 in the expected release of Q1 results on April 14. April call option implied volatility is at 27, May is at 17, June is at 15; compared to its 26-week average of 17. IShares Barclay 20+ YR Treasury[...]

  • Blogging Options | Apr 13, 2015, 7:58 AM

    Blogging Options: CBOE Morning Update 4.13.15

    Blogging Options: CBOE Morning Update 4.13.15

    US futures and overseas markets drifting lower after several days of gains.  Chinese exports drop sharply, concerning to those worried about world economies slowing.  Oil higher, Gold lower, 10-year up fractionally.  Economic news later in the week, Q1 earnings ramp up as well. Exciting Masters championship over the weekend.  Volatility as an asset class: Qualcomm (QCOM) is up $3.34 to $72.50 in the preopen on Jana Partners urging the chip company to consider a breakup according[...]

  • Market News | VIX | Apr 10, 2015, 3:09 PM

    The Weekly Options News Roundup – 4/10/2015

    The Weekly Options News Roundup – 4/10/2015

    The Weekly News Roundup is your weekly recap of CBOE features, options industry news and VIX and volatility-related articles from print, broadcast and online and social media outlets. VIX Shifts to Neutral With the jobs number behind us and earning season gearing up to take center stage, the VIX Index idles in neutral.  Dipping below 13 on Friday, the VIX has been pretty-range bound since January.  But even in calm states, VIX products can deliver returns for investors. “Stocks &[...]

  • Blogging Options | Trader Talk | Apr 10, 2015, 8:10 AM

    Blogging Options: CBOE Morning Update 4.10.15

    Blogging Options: CBOE Morning Update 4.10.15

    Chicago traders had winds in excess of 90 mph visit the area last night. Apple watch release today viewed with great interest, still unsure of customer acceptance and full capabilities.  GE selling GE Capital, using ~$50B proceeds to acquire stock.  One of the largest buy-backs ever, and will help the DJIA this morning.  USD up, European shares higher as well.  Here's hoping any presidential candidate announcements don't cut into Masters coverage on Sunday. Volatility as an asset[...]

  • Blogging Options | Apr 9, 2015, 1:35 PM

    Blogging Options: Mid-Day Update 4.9.15

    Blogging Options: Mid-Day Update 4.9.15

    US stocks holding on to fractional gains on light Easter week trading.  With 90-minutes left in the trading day, Options had only traded ~10 million contracts.  SPX showed 540 K and RUT with 52 K contracts changing hands.  Not much going on, traders watching Oil and also to see if DJ Transports hold key levels. Volatility as an asset class: Constellation Brands (STZ) is recently up 23c to $119.36 after the alcoholic-beverage maker sees FY16 comparable EPS $4.70-$4.90, consensus $4.85.[...]

  • Market News | Apr 9, 2015, 8:05 AM

    Blogging Options: CBOE Morning Update 4.9.15

    Blogging Options: CBOE Morning Update 4.9.15

    2" of rain and spectacular lightning meet Chicago traders on their way in from the train this morning.  Alcoa kicked off Q1 earnings season with slight disappointment.  Weekly Jobless in at 281K, FED minutes fairly dovish.  European shares up, as is Oil (~1.5%).   Masters starts today, nice to see Jack Nicklaus with a hole-in-one in yesterday's Par-3 contest, as well as Tiger's entourage.  Volatility as an asset class: Alcoa (AA) is down $0.37 to $13.31 in the preopen[...]

  • Market News | Apr 8, 2015, 1:15 PM

    CBOE Mid-Day Update 4.8.15

    CBOE Mid-Day Update 4.8.15

    Volatility as an asset class Mylan (MYL) is recently up $7.63 to $67.06 after proposing to acquire Perrigo (PRGO) for $205 per share. April option implied volatility is at 45, May is at 38, July is at 34; compared to its 26-week average of 33. Perrigo (PRGO) is recently up $42.16 to $206.90. May call option implied volatility is at 36, August is at 36; compared to its 26-week average of 28. CBOE/CBOT 10-year U.S. Treasury Note Volatility Index (VXTYN) -2% to 5.34 cboe.com/VXTYN CBOE Crude Oil Volatility[...]

  • Blogging Options | Trader Talk | Apr 8, 2015, 8:05 AM

    Blogging Options: CBOE Morning Update 4.8.15

    Blogging Options: CBOE Morning Update 4.8.15

    Stocks look modestly higher pre-market.  Royal Dutch $69.6B merger (see below) talk of trading desks.  AA kicks off Q1 earnings after the close, street looking for $0.26 (Implied volatility says 4.75% range expected).  Fairly slow action in the options world yesterday as ~12.7 million contracts change hands.  SPX with 675K, VIX with ~335K, RUT 48K.  Rahm Emanuel wins Mayoral election in Chicago with 55.7% of vote. Volatility as an asset class: Royal Dutch Shell (RDS.A, RDS.B)[...]

  • VIX | Blogging Options | Trader Talk | Apr 7, 2015, 12:07 PM

    CBOE Mid-Day Update 4.7.15

    CBOE Mid-Day Update 4.7.15

    Volatility as an asset class JPMorgan (JPM) is recently up 63c to $61.10 after being upgraded to Outperform from Market Perform at Bernstein. April call option implied volatility is at 23, May is at 18, June is at 17, September is at 18; compared to its 26-week average of 20. Carnival (CCL) is recently up $1.38 to $49.14 after being upgraded to Outperform from Market Perform at Wells Fargo. April call option implied volatility is at 23, May is at 22, July is at 21; compared its 26-week average of[...]