Option update: Higher implied volatility (GOOG, AAPL, DELL)

The Volatility Index (vIX) for S&P 500 Options is up 2.22 to 32.99, above the 10-day moving average of 25.20.

Google Inc. (NASDAQ: GOOG) -- implied volatility flat at 29. GOOG is recently down $2.46 to $495.36. GOOG overall option implied volatility of 29 is near its 26-week average of 28 according to Track Data, suggesting non-directional risk.

Apple Inc. (NASDAQ: AAPL) -- implied volatility elevated at 45. AAPL is recently down $2.88 to $117.29. Bear Stearns says, "iPhone tracking survey highlights new buying pattern, personal use; no estimate changes; reiterate Outperform." AAPL over all option implied volatility of 45 is above its 26-week average of 39 according to Track Data, suggesting larger risk.

Dell Inc. (NASDAQ: DELL) -- September implied volatility Elevated at 41. DELL is expected to report EPS in late August. DELL September option implied volatility of 41 is above its 26-week average of 27 according to Track Data, suggesting larger risk.

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