Volatility Index S&P 500 Options-VIX at 21.13; 10-day moving average is 22.52.

Boeing (NYSE: BA) is recently up 20 cents to $64.80. Goldman Sachs says "Removing from the conviction sell list on crude pullback." BA September option implied volatility of 33 is near its 26-week average according to Track Data, suggesting non-directional price fluctuations.

American International (NYSE: AIG) is scheduled to report Q3 EPS after the market close today. Societe Generale started AIG at Sell. AIG August option implied volatility is at 99, September is at 69; above its 26-week average of 51 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com