Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Edges Higher After Slow Start

Zulily Inc and Rosetta Resources Inc. have divergent responses to earnings news

by 2/25/2014 12:10 PM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is trying to ease back into the black, after spending spent much of the morning treading water south of breakeven. Currently, the blue-chip index is up 6 points at 16,213.31. Investors are digesting an unexpected slip in consumer confidence this month, and watching the S&P 500 Index (SPX) once again tiptoe around positive year-to-date territory. In other economic news, home prices edged lower for the second straight month in December, but posted their strongest year-over-year increase since 2005.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges currently stands at 0.85, with call volume outpacing put volume. So far today, 3.65 million calls have changed hands, compared to 3.14 million puts.

  2. Wall Street rookie and online retailer Zulily Inc (NASDAQ:ZU) has gained more than 41% today to $60.42, hitting a record high of $63.00 along the way. Last night, in its first earnings report since going public, the company disclosed better-than-expected results. Total options volume is running at nearly 21 times the normal pace, with 55.2% of the action on the call side of the fence.

  3. The advance/decline ratio on the Nasdaq Exchange stands at 0.80. Declining stocks are maintaining a slight advantage over advancing issues at midday.

  4. One of today's biggest decliners on the Nasdaq is Rosetta Resources Inc. (NASDAQ:ROSE), which has slipped more than 9.5% to $42.75. The oil-and-gas concern reported better-than-expected fourth-quarter earnings per share last night, but was greeted with a downgrade and price-target reduction at Howard Weil this morning.

  5. The CBOE Volatility Index (VIX) is moving slightly lower once again, and is currently flirting with the 14 level after breaching this mark earlier today. At last check, the "fear gauge" was down 0.1 point, or 0.4%, at 14.18.

  6. Today's put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) stands at 0.88, with call volume slightly outpacing put volume. The ETN has edged 0.4% lower so far to $42.54.

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

Unusual Option Volume at Midday

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