Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Bounces Back After ISM Data

Call players are taking over The Walt Disney Company's options pits today

by 6/4/2014 12:03 PM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is parked 2.24 points, or 0.01%, above breakeven at 16,724.59 at midday, after mixed economic reports hit the Street this morning. Specifically, the private sector saw fewer-than-expected jobs added in May (growing at its slowest rate in four months), while the international trade deficit grew by a larger-than-estimated 6.9% in April. Elsewhere, U.S. productivity was revised to show a 3.2% annual decline in the first quarter -- its worst reading in six years -- and unit labor costs arrived roughly in line with expectations. However, the Institute for Supply Management (ISM) said its services sector index rose to its highest perch in nine months -- which seems to be prompting the change in heart among investors. In fact, around 11:30 a.m. ET, the S&P 500 Index (SPX) tagged a record intraday peak of 1,927.61, but was last seen trading near 1,926.58. Heading into the second half of the session, investors have their eyes peeled for the Federal Reserve's Beige Book, slated for release at 2 p.m. ET.

Here are a few noteworthy stats at midday:

  1. The advance/decline ratio on the New York Stock Exchange (NYSE) stands at 0.87, with the number of declining stocks outstripping the advancers.

  2. The equity put/call volume ratio across all 12 options exchanges comes in at 0.68. Roughly 3.45 million calls, compared to about 2.37 million puts, have crossed the tape so far.

  3. Among the names with call-heavy trading activity today is The Walt Disney Company (NYSE:DIS). Overall options volume is trading at about nearly three the intraday average, and almost all of these contracts have changed hands on the call side. Meanwhile, on the charts, DIS is fractionally lower this afternoon at $83.83.

  4. The CBOE Volatility Index (VIX) is standing 1.4% higher at 12.04 this afternoon, and may be poised to finish its first session atop the 12 mark since May 22.

  5. The iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) is currently down 0.66% at $33.28 -- after earlier tagging a new record low of $33.21. Meanwhile, the ETN's put/call volume ratio stands at 0.61, with call volume easily outstripping put volume.

View a real-time chart of the Dow Jones Industrial Average (INDEXDJX:.DJI).

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