The most recent data released from the Federal Reserve's Open Market Committee meetings show that the Fed remains relatively positive, albeit cautious, about an economic recovery in the U.S. This means that the Fed can start planning to wind down some of its debt buying programs including the its current program to purchase $300 billion in Treasury debt.

While the data was just released on Wednesday, the meetings actually took place on August 11th and 12th. But the results still merit scrutiny, especially for investors who may wonder what this could mean for their portfolios. Let's take a look.

Proshares UltraShort Barc 20 Year Treasury ETF (NYSE: TBT) closed at $57.14. TBT June option implied volatility is at 48, above a level of 36 from May 21 and above its 23-week average of 45, according to Track Data, suggesting larger price movement.

ProShares UltraShrt Lehman 7-10 Yr ETF (NYSE: PST) closed at $58.48. PST July call option implied volatility is at 24, above a level of 17 from May 21, and near its 19-week average of 23, according to Track Data, suggesting increasing price movement.

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

ProShares UltraShrt Lehman 7-10 Yr ETF (NYSE: PST) closed at $57.16. The U.S. Treasury is in the midst of raising $300 billion from credit investors to fund the economic stimulus plan. PST overall option implied volatility of 24 is near its three-week average according to Track Data, suggesting non-directional price movement.

iShares Barclays Capital Long Term Tr ETF (NYSE: TIP) closed at $100.50. TIP overall option implied volatility of 12 is near its 26-week average according to Track Data, suggesting non-directional price movement.

Volatility Index S&P 500 Options - VIX at 43.63; 10-day moving average is 43.25.

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