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  • 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[...]

  • Market News | Blogging Options | Trader Talk | Apr 7, 2015, 8:03 AM

    Blogging Options: CBOE Morning Update 4.7.15

    Blogging Options: CBOE Morning Update 4.7.15

    Markets corrected yesterday following the disappointing jobs report Friday - for the first hour - then rallied on "bad news is good news" with possible FED action. European shares higher this morning but remember most were closed for 4-day Easter holiday. FDX (see below) bidding for TNT interesting, as UPS was not allowed to buy TNT a few years ago due to monopoly fears.  Marty Kearney just wrapped up one-hour syndicated radio show on Stocks & Jocks, talked about FTSE options coming[...]

  • VIX | Blogging Options | Trader Talk | Apr 6, 2015, 11:47 AM

    CBOE Mid-Day Update 4.6.15

    CBOE Mid-Day Update 4.6.15

    Volatility as an asset class Gang of four overall option implied volatility: Amazon.com (AMZN) overall option implied volatility of 32 is compares to its 26-week average of 28. Apple (AAPL) overall option implied volatility of 28 is compares to its 26-week average of 27. Google (GOOG overall option implied volatility of 24 is compares to its 26-week average of 22. Facebook (FB) overall option implied volatility of 31 is compares to its 26-week average of 32. CBOE/CBOT 10-year U.S. Treasury Note Volatility[...]

  • VIX | Blogging Options | Trader Talk | Education | Apr 6, 2015, 7:52 AM

    Blogging Options: CBOE Morning Update 4.6.15

    Blogging Options: CBOE Morning Update 4.6.15

    First full trading day in US after abysmal Jobs print Friday.  S&P futures off 13, Russell by 10, DJIA futures lower by 120 points. Gold and Oil up, 10-year near 1.84%.  VIX futures volume on lighter-side in early session.  Much of European markets closed this morning, as Easter a 4-day weekend for many.  FED's Dudley with innocuous comments about FED's future actions, ISM Service Sector released later this morning.  Duke - Wisconsin tonight. Volatility as an asset class Euro[...]

  • Market News | Apr 2, 2015, 8:05 AM

    Blogging Options: CBOE Morning Update 4.2.15

    Blogging Options: CBOE Morning Update 4.2.15

    Weekly Claims drop, yields still falling this morning along with Oil prices.  Trade Deficit below estimates.  Factory Orders later this morning.  Lumber Liquidators up 3% as monthly sales after CBS report not hurt as much as expected.  Traders will probably square their books early today as long weekend upon us.  Monthly NFP will be released at regular time tomorrow morning - Good Friday only trading Holiday not a national holiday. Volatility as an asset class Micron (MU)[...]

  • VIX | Blogging Options | Trader Talk | Apr 1, 2015, 12:08 PM

    CBOE Mid-Day Update 4.1.15

    CBOE Mid-Day Update 4.1.15

    Volatility as an asset class Deutsche Bank downgraded shares of American Airlines (AAL), Delta Air Lines (DAL) and United Continental (UAL) to Hold from Buy. It cut its price target for American to $58 from $78, for Delta to $50 from $60 and for United to $70 from $85 on concerns international sales will disappoint over the next few quarters. Analysts at Deutsche expect the combination of a strong U.S. dollar, capacity increases by non-US airlines and decelerating global GDP growth to pressure the[...]

  • Market News | Apr 1, 2015, 8:05 AM

    Blogging Options: CBOE Morning Update 4.1.15

    Blogging Options: CBOE Morning Update 4.1.15

    ADP March Employment disappointed big-time, showing a gain of 189K new jobs.  Lowest read in over a year, less than the ~225K expected.  Yields getting crushed pre-market.  PMI and ISM due in first half-hour of trading.  European shares mixed to higher.  VIX Futures active in early session with ~18K trading hands.  Free webinar after the close, 3:30 CDT at cboe.com on Russell (RUT) options.   GoDaddy (GDDY) IPO today, we hear $20 was the IPO price.  Volatility[...]

  • VIX | Blogging Options | Trader Talk | Mar 31, 2015, 12:15 PM

    CBOE Mid-Day Update 3.31.15

    CBOE Mid-Day Update 3.31.15

    Volatility as an asset class Charter Communications (CHTR) is recently up $13.28 to $196.67 after announcing that it will acquire Bright House Networks for $10.4B. April call option implied volatility is at 24, May is at 27, June is at 26; compared to its 26-week average of 25. Movado Group (MOV) is recently up $3.73 to $29.36 after the fine watch reported Q4 profits significantly surpassed analysts' consensus estimates. April call option implied volatility is at 36, May is at 30, June is at 33;[...]

  • Blogging Options | Mar 31, 2015, 7:50 AM

    Blogging Options: CBOE Morning Update 3.31.15

    Blogging Options: CBOE Morning Update 3.31.15

    Oil down ~$1 and European shares lower (FTSE -1.5%, DAX off 1%) set the tone for the last trading day of the quarter.  Lots of economic data early this morning.  Case-Shiller  before the opening, then Chicago PMI and Consumer Confidence.  VIX with modest futures trading in early session.  Volatility as an asset class Conn's (CONN) is down $0.79 to $27.88 in the preopen after the furniture retailer reported Q4 profit fell 44% on a 18% increase in revenue. April call option[...]

  • VIX | Blogging Options | Trader Talk | Mar 30, 2015, 11:47 AM

    CBOE Mid-Day Update 3.30.15

    CBOE Mid-Day Update 3.30.15

    Volatility as an asset class Auto Manufacturer’s Option Implied Volatility flat into the start of the New York Auto Show Tesla (TSLA) is recently down $2 to $183.06. Over all option implied volatility of 42 compares to its 26-week average of 45. Ford (F) is recently up 24c to $16.22. Over all option implied volatility of 21 compares to its 26-week average of 24. Honda Motor Co (HMC) is recently up 17c to $33.63. Over all option implied volatility of 20 compares to its 26-week average of 22. General[...]

  • Market News | Mar 30, 2015, 8:00 AM

    Blogging Options CBOE Morning Update 3.30.15

    Blogging Options  CBOE Morning Update 3.30.15

    Average option volume day on Friday  with 13.3mm contracts trading.  SPX had 890K trade, VIX had volume of 350K and VIX Futures came in with 120K trading.  Traders watching Iran negotiations, European shares higher.  March Spending up 0.1%, Personal Income higher by 0.4% (Spending a slight miss, Income a beat).   MSG to split into two companies.  End of Quarter tomorrow, Friday a trading holiday and March Jobs report will be released Friday morning.  Good NCAA Tourney[...]