Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Down On Soft U.S. Factory Data

Option traders target NextEra Energy, Inc. calls, while Vivus, Inc. shares hit a new low

by 3/24/2014 12:11 PM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) enjoyed a brief moment in the green this morning, after less-than-stellar manufacturing data in China inspired hope that the country would consider new monetary stimulus measures. Now, however, the DJI is down 36.36 points, or 0.22%, at 16,266.41, following the release of the U.S. flash purchasing managers index (PMI) for March, which dipped to a weaker-than-expected reading of 55.5 from a nearly four-month-high reading of 57.1 in February.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges stands at 0.84. Roughly 4.73 million calls, compared to about 4.01 million puts, have crossed the tape so far.

  2. Among the names with call-heavy trading activity today is NextEra Energy, Inc. (NYSE:NEE). At last check, 98.3% of the stock's intraday options volume had changed hands on the call side. Meanwhile, on the charts, NEE shares have shed 0.8% today to trade at $93.81.

  3. The Nasdaq shows an advance/decline ratio of 0.20, with decliners outnumbering advancing stocks by a margin of 5-to-1.

  4. Among the underperformers on the Nasdaq today is Vivus, Inc. (NASDAQ:VVUS), which is down 4.5% to trade at $5.58, pressured lower by a sector-wide retreat. Earlier, VVUS bottomed at a multi-year low of $5.50.

  5. The CBOE Volatility Index (VIX) is on target to finish its second consecutive session atop the 15 mark, currently up 4.9% at 15.74.

  6. The iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) has bounced 2.2% today to $45.19. Meanwhile, the ETN's put/call volume ratio stands at 0.84, with call volume easily outpacing put volume.

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

Unusual Option Volume

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