Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Looks North At Start of FOMC Meeting

Call players have taken over ARM Holdings plc's (ARMH) options pits

by 4/29/2014 12:07 PM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) spent the first half of the session in the green, and at last check, was up 81.14 points, or 0.49%, at 16,529.88, following a pair of so-so economic reports. While the Conference Board's consumer confidence index fell more than expected in April, it managed to maintain a six-year-high level. Furthermore, despite U.S. single-family home prices seeing a slightly higher-than-expected increase in February, they were still well below their 2005 level, on a national basis. Heading into the second half of the session, all eyes are on the Federal Open Market Committee (FOMC), which begins its two-day policy-setting meeting today.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges stands at 0.85. Roughly 3.56 million calls, compared to about 3.05 million puts, have crossed the tape so far.

  2. Among the names with call-heavy trading activity today is ARM Holdings plc (ADR) (NASDAQ:ARMH). At last check, calls were changing hands at 12 times the average intraday rate, outnumbering puts by a nearly 91-to-1 margin; overall, 99.9% of the stock's options volume has crossed on the ask side. On the charts, meanwhile, ARMH may be seeing an end to its post-earnings decline. After falling 8.3% over the last four trading days, the stock is currently hovering right above its daily flat line, at $45.98.

  3. The CBOE Volatility Index (VIX) is on track to extend its week-to-date decline, currently down 1.65% at 13.74.

  4. The iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) has fallen 0.89% to $40.58. Meanwhile, the ETN's put/call volume ratio stands at 1.07, with put volume slightly outpacing call volume.

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

Unusual Option Volume

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