Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Down On Inflation Data

Call volume surges on InterOil Corporation (USA) after first-quarter profit spike

by 5/14/2014 12:05 PM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) has been pointed south all morning, and at last check, was positioned 54.36 points, or 0.33%, below breakeven at 16,661.08. Adding pressure to the broad-market index today was the Labor Department's producer price index, which grew at a larger-than-expected annual rate of 0.6% last month (relative to March), marking its biggest increase since September 2012.

Here are a few noteworthy stats at midday:

  1. The advance/decline ratio on the Nasdaq stands at 0.46, with the number of declining stocks more than doubling the advancers.

  2. The equity put/call volume ratio across all 12 options exchanges stands at 0.82. Roughly 3.15 million calls, compared to about 2.62 million puts, have crossed the tape so far.

  3. Among the names with call-heavy trading activity today is InterOil Corporation (USA) (NYSE:IOC). Overall options volume is trading at about four times the intraday average, and nearly 79% of these contracts have changed hands on the call side. Meanwhile, on the charts, IOC is down 0.8% to trade at $60.24, even though the company reported a sharp increase in first-quarter earnings this morning.

  4. The CBOE Volatility Index (VIX) is up a mere 0.74% this afternoon at 12.04, after finishing the past three sessions in the red.

  5. The iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) hit a fresh record low of $36.78 earlier today, and is currently positioned 0.94% below breakeven at $36.89. As such, the ETN is currently on track to finish the session below the $37 mark for the first time ever. Meanwhile, the ETN's put/call volume ratio stands at .98, with call volume and put volume running roughly neck and neck.

View a real-time chart of the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI).

Unusual Option Volume

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