Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Drops; Winning Streak in Jeopardy

Kinross Gold Corporation (USA) calls heat up ahead of earnings; Owens Corning tags a record high

by 2/12/2014 11:56 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) has spent time on both sides of breakeven today, but was last seen 51.1 points, or 0.3%, lower at 15,943.66. While the blue-chip bulls are taking a respite in the wake of the index's four-day rally, traders across the pond extended the European bourses' winning streak to six sessions.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges is currently perched at 0.76, with calls outpacing puts. So far today, 3.72 million calls have changed hands, compared to 2.84 million puts.

  2. One name seeing heavy call trading today (on a relative basis) is mining concern Kinross Gold Corporation (USA) (NYSE:KGC), which reports earnings after the close. More than 96% of today's option volume has traded on the call side. At last check, KGC is down 2% at $5.26.

  3. The advance/decline ratio on the New York Stock Exchange (NYSE) stands at 1.17, with advancing stocks outpacing the declining issues.

  4. One of the biggest upward movers on the Big Board today is Owens Corning (NYSE:OC), which is celebrating an earnings win. After notching an all-time high of $45.62 in early action, the construction issue has trimmed its lead to 11.8% to trade at $44.42.

  5. The CBOE Volatility Index (VIX) is rebounding slightly from yesterday's dip. The "fear gauge" is up 0.04 point, or 0.3%, at 14.55.

  6. Today's put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) stands at 1.89, with put volume nearly doubling call volume so far. The ETN has gained 0.3% at midday to $43.91.

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

Unusual Option Volume at Midday

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