Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Gains on Home Sales Numbers

GameStop Corp. is rallying on last night's quarterly earnings report

by 5/23/2014 12:03 PM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is 54.5 points, or 0.3%, higher at 16,597.60, after news of a larger-than-expected rise in new home sales last month, and an upwardly revised reading for March. Meanwhile, the S&P 500 Index (SPX) is poised for its first weekly gain in three, last seen 5.6 points, or 0.3% higher, at 1,898.13.

Here are a few noteworthy stats at midday:

  1. The advance/decline ratio on the New York Stock Exchange registers at 1.98, with advancing equities roughly doubling decliners.

  2. The equity put/call volume ratio across all 12 options exchanges checks in at 0.83, with puts trailing calls. Currently, 2.97 million calls have changed hands, compared to 2.48 million puts.

  3. Among the equities with notable call volume is GameStop Corp. (NYSE:GME), which is up 5% at $38.74 at midday, following a better-than-expected first-quarter earnings report. GME's total options volume nearly quadruples the average intraday clip, and more than three-quarters of the activity has transpired on the call side of the fence.

  4. In the latest American Association of Individual Investors (AAII) poll, the percentage of bulls dropped to 30.4% from 33.1% the week prior. The percentage of neutral investors dipped to 43.2% from 44.3%, while the percentage of bears jumped to 26.4% from 22.6%.

  5. The CBOE Volatility Index (VIX) is down 0.3 point, or 2.7%, at 11.70, and earlier touched a new annual low of 11.46.

  6. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) -- currently 0.9% lower at $34.93 -- is 0.95, with calls and puts trading near parity.

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

Unusual Option Volume at Midday

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