Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Looks to Snap Losing Streak

American Eagle Outfitters rebounds from lows, while Yelp Inc surges higher

by 1/28/2014 11:59 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is attempting to break its five-day losing streak, and is sitting with a 39.8-point gain at 15,877.71 at last check, after trading nearly 108 points higher at its early morning peak. In economic news, January's consumer confidence reading came in better than expected, the S&P/Case-Shiller home price index for November was roughly in line with expectations, and durable goods orders showed a surprising drop in December. Investors will also have an eye on the Federal Reserve today, as the central bank kicks off its two-day policy meeting. It will be the last central bank gathering before Janet Yellen takes the reins from Ben Bernanke, the outgoing chairman.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges is currently sitting at 0.80. So far today, 3.40 million calls have changed hands, compared to 2.73 million puts.

  2. Among the stocks with heavy call-skewed volume today is American Eagle Outfitters (NYSE:AEO), as nearly all of the retailer's options traded have changed hands on the call side. The stock is up 2.7% to $13.50 at midday after touching a new two-year low of $12.59 in yesterday's session.

  3. The advance/decline ratio on the New York Stock Exchange (NYSE) stands at 2.06. Advancing stocks are outpacing declining names by a margin of slightly more than 2-to-1.

  4. One NYSE stock making notable headway today is Yelp Inc (NYSE:YELP), which is currently up nearly 2.9% at $74.59. Overall, stocks in the social media sector are having a positive day ahead of Facebook Inc's (NASDAQ:FB) earnings report tomorrow afternoon.

  5. The CBOE Volatility Index (VIX) has continued to drop today, following Monday's dip into the red. The market's fear gauge is down 6%, or 1 point, to 16.38.

  6. Today's put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) stands at 1.24, with put volume outpacing call volume so far. The ETN has slipped 2% lower at midday to $44.49.

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

Unusual Option Volume at Midday

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