CBOE Volatility Index (VIX) at 32.79; 10-day moving average is 22.02, 50-day is 18.31, 200-day moving average is 22.12, according to Track Data. The VIX is a key measure of market expectations of near-term volatility conveyed by S&P 500 stock index option prices.

SPDR Gold Trust (GLD) recently down 74 cents to $117.75. Gold is recently up 0.44% to $1202.60 GLD May put option implied volatility is at 24, June is at 23, July is at 24, versus its 26-week average of 22 according to Track Data, suggesting larger price movement.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

SPDR Gold Trust (GLD) recently down 79 cents to $110.43 in pre-open trading. Gold is recently down 0.81% to $1127.70. GLD overall option implied volatility of 20 is near its 26-week average of 22, according to Track Data, suggesting non-directional price movement.

Morgan Stanley (MS) closed at $29.16. The SEC charged Goldman Sachs (GS) with fraud relating to CDOs. MS is scheduled to report Q1 EPS on April 21. Overall option implied volatility is at 36, versus its 26-week average of 35, according to Track Data.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

Pharmaceutical HOLDR (PPH) closed at $66.67. PPH April put option implied volatility is at 17, May is at 20, August is at 22, versus its 26-week average of 18, according to Track Data, suggesting non-directional price movement.

CBOE Volatility Index (VIX) at 16.62; 10-day moving average is 17.66, 50-day is 20.67, 200-day is 23.80.

SPDR Gold Trust (GLD) overall implied volatility at 20; 26-week average is 23.

Options Update is by Stock Specialist Paul Foster of theflyonthewall.com.

SPDR Gold Trust (GLD) recently up 52 cents to $110.92 in pre-open trading. Gold is recently up 0.88% to $1,132.40. GLD overall option implied volatility of 19 is below its 26-week average of 23, according to Track Data, suggesting decreasing price movement.

JP Morgan (JPM) closed at $43.24. JPM is expected to report Q1 EPS in mid-April. April put option implied volatility is at 32, June is at 30, below its 26-week average of 34, according to Track Data, suggesting decreasing price movement.

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