Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Higher Despite Mixed Economic Data

Denbury Resources Inc. rises on upgrade, Qiwi PLC soars on earnings beat

by 4/1/2014 11:58 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) has rallied by nearly 70 points to 16,527.31, as investors digest a full helping of economic numbers. The ISM manufacturing index for March fell just shy of economists' expectations and Markit's final purchasing managers manufacturing index (PMI) slowed in March from the previous month; however, both reports signaled expansion. Meanwhile, construction spending in February finished in line with estimates. Also, Ford Motor Company (NYSE:F) and Chrysler Group LLC posted better-than-anticipated March sales.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges checks in at 0.67, with calls outpacing puts by about a 3-to-2 margin. Currently, 3.87 million calls are on the tape, compared to 2.60 million puts.

  2. Among the equities with notable call volume is Denbury Resources Inc. (NYSE:DNR), which is 1.5% higher at $16.65, after receiving a price-target hike to $18 from $17 at Suntrust Robinson earlier today. Over 93% of DNR's options volume has crossed on the call side.

  3. The Nasdaq Exchange shows an advance/decline ratio of 2.42, with advancing equities more than doubling decliners.

  4. One of the Nasdaq's big winners at midday is payment services provider Qiwi PLC (NASDAQ:QIWI), which has soared 7.7% to trade at $37.31 following last night's fourth-quarter earnings beat.

  5. The CBOE Volatility Index (VIX) has sunk 0.5 point, or 3.3%, to 13.42. The market's "fear gauge" hasn't closed below the 13.50 level since Jan. 22.

  6. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) -- off 1.3% at $41.61 -- checks in at 2.91, with put volume almost tripling call volume.

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

Unusual Option Volume at Midday


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