Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Bounces Higher After Monday's Sell-Off

NASDAQ OMX Group, Inc. sees pre-earnings call action; Michael Kors Holdings Ltd surges on earnings news

by 2/4/2014 12:03 PM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) has edged higher today, clawing back from a 326-point drubbing in Monday's session. At last check, the blue-chip index had gained 93.6 points, or 0.6%, at 15,466.27. Quarterly earnings disclosures are sharing the spotlight with economic reports, the latest of which was issued from the Commerce Department this morning. New orders for factory goods dipped in December, narrowly topping economists' estimates. After removing the volatile transportation sector, orders inched higher for the month.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges is currently perched at 0.91, with call volume and put volume near parity. So far today, 3.72 million calls have changed hands, compared to 3.38 million puts.

  2. One name seeing heavy call trading today (on a relative basis) is exchange operator NASDAQ OMX Group, Inc. (NASDAQ:NDAQ), which is sitting 2.5% higher at $38.05. Nearly 83% of today's option volume has traded on the call side. NASDAQ is preparing to issue its fourth-quarter earnings report ahead of the open tomorrow, and has topped per-share earnings expectations in five of the last seven earnings periods.

  3. The advance/decline ratio on the New York Stock Exchange (NYSE) stands at 2.36 Advancing stocks are outpacing declining issues by a margin of more than 2-to-1.

  4. One of the biggest movers on the Big Board today is Michael Kors Holdings Ltd (NYSE:KORS), which has shot up more than 18% to $90.62 tagging a new all-time high of $93.18 along the way. The upscale apparel name lifted its 2014 earnings and revenue forecasts and reported stronger-than-expected results for its fiscal third quarter.

  5. The CBOE Volatility Index (VIX) is heading lower, after ending Monday's session north of the 21 level. The "fear gauge" has logged a drop of 14%, or 3 points, to 18.45.

  6. Today's put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) stands at 0.92, with call volume outpacing put volume so far. The ETN has slipped 3.2% at midday to $51.34.

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

Unusual Option Volume at Midday

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