Volatility Index S&P 500 Options - VIX at 79.12; 10-day moving average is 63.99.

Volatility Index NASDAQ 100 - VXN at 78.81; 10-day moving average is 67.89.

NASDAQ 100 - QQQQ overall implied volatility at 52; 26-week average is 34.

Russell 2000 - IWM overall implied volatility at 62; 26-week average is 34.

Financial Select Sector - XLF overall volatility at 78; 26-week average is 44.

Comcast (NASDAQ: CMCSA) is scheduled to report Q3 EPS on October 29. CMCSA November option implied volatility of 111 is above its 26-week average of 39 according to Track Data, suggesting larger price movement.

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

Globex S&P futures trading limit down 60.00 below previous day's SPX cash close.

Stocks tumbled around the world and U.S. index futures fell on increasing concern the weakening global economy will decrease earnings.

Nikkei 225 down 9.60%, DAX 30 down 8.96%. WTI Crude oil $64.50. Copper down 2.50%. Gold $690.

Volatility Index S&P 500 Options-VIX at 67.80; 10-day moving average is 63.07.

Volatility Index NASDAQ 100-VXN at 69.83; 10-day moving average is 67.16.

NASDAQ 100-QQQQ overall implied volatility at 53; 26-week average is 33.

Semiconductor Holders Trust-SMH overall volatility at 49; 26-week average is 33.

Russell 2000-IWM overall implied volatility at 51; 26-week average is 33.

Financial Select Sector-XLF overall volatility at 70; 26-week average is 44.

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

Lowe's (NYSE: LOW/Option chains) is expected to report Q2 EPS on August 18. Deutsche Bank has a $23 price target on LOW. LOW September option implied volatility of 50 is above its 26-week average of 40 according to Track Data, suggesting larger price movement.

Home Depot (NYSE: HD/Option chains) is scheduled to report Q2 EPS on August 19. Deutsche Bank has a $22 price target on HD. HD September option implied volatility of 44 is above its 26-week average of 39, suggesting larger price movement.

Russell 2000 (NYSE: IWM/Option chains) overall implied volatility at 25; 26-week average is 27.

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