Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Poised for Third Straight Win

St. Jude Medical, Inc. sees post-earnings call trading, while Nimble Storage Inc enjoys an upgrade

by 4/16/2014 12:04 PM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) jumped triple digits out of the gate, and was last seen 106 points, or 0.7%, higher at 16,368.53. A pair of solid tech-sector earnings reports from Intel Corporation (NASDAQ:INTC) and Yahoo! Inc. (NASDAQ:YHOO) has stoked the bullish flames, and an encouraging report on industrial production has overshadowed a slimmer-than-anticipated rise in March housing starts. This afternoon, Wall Street will digest a speech from Fed Chair Janet Yellen, as well as the central bank's Beige Book.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges is currently perched at 0.87, with calls outpacing puts. So far today, 3.74 million calls have changed hands, compared to 3.26 million puts.

  2. One name seeing heavy call trading today is heart device maker St. Jude Medical, Inc. (NYSE:STJ), which is down 3.2% at $61.17, despite reporting stronger-than-expected first-quarter earnings and lifting its full-year guidance. So far, nearly 86% of today's option volume has traded on the call side.

  3. The advance/decline ratio on the New York Stock Exchange (NYSE) stands at 2.67, with advancing stocks more than doubling declining issues.

  4. The biggest upward mover on the exchange so far today is data storage provider Nimble Storage Inc (NYSE:NMBL), which is up 8.6% at $33.74 after an upgrade to "buy" from "neutral" at UBS. (The brokerage firm, however, reduced its price target for NMBL to $45 from $53.)

  5. The CBOE Volatility Index (VIX) is down 0.9 point, or 5.6%, at 14.74. The "fear barometer" is on pace to end the holiday-shortened week with a 13.5% deficit.

  6. Today's put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) stands at 1.34, with put volume outpacing call volume so far. The ETN has shed 1.7% at midday to $43.17.

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

Unusual Option Volume at Midday


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