Yahoo! (NASDAQ: YHOO) implied volatility elevated at 40. YHOO is recently down 37 cents to $22.95. YHOO overall option implied volatility of 40 is above its 26-week average of 35 according to Track Data, suggesting larger risk.

Microsoft (NASDAQ: MSFT) implied volatility elevated at 40. MSFT is recently down 19 cents to $27.91. MSFT overall option implied volatility of 40 is above its 26-week average of 23 according to Track Data, suggesting larger risk.

Amgen (NASDAQ: AMGN) implied volatility elevated at 34 after restructuring. AMGN is recently down $1.57 to $49.02. Goldman Sachs says: "Sales and costs in line. Maintain estimate and intrinsic value of $45." AMGN September option implied volatility of 34 is above its 26-week average of 26 according to Track Data, indicating larger risks.

Cisco Systems (NASDAQ: CSCO) implied volatility elevated at 34. CSCO is recently up 9 cents to $30.01. CSCO will be holding an analyst meeting on September 5 in San Jose. Jeffreies has a Buy rating on CSCO. CSCO September option implied volatility of 34 is above its 26-week average of 28 according to Track Data, suggesting slightly larger risk.

Volatility Index S&P 500 Options-VIX up 2.68 to 33.35.

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