Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Rallies on Solid Job Growth

VeriFone Systems Inc gapped higher following last night's earnings report

by 6/6/2014 11:58 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is sitting solidly in the green, up 65.4 points, or 0.4%, at 16,901.47 -- after hitting a record intraday high of 16,909.22 -- on an encouraging nonfarm payrolls report. Specifically, the economy added more jobs than expected, and the unemployment rate finished slightly below the consensus estimate. Elsewhere, the S&P 500 Index (SPX) also hit a record intraday high of 1,949.25, and was last seen just below that mark, at 1,948.38.

Here are a few noteworthy stats at midday:

  1. The advance/decline ratio on the New York Stock Exchange (NYSE) is 3.65, with advancers nearly quadrupling decliners.

  2. The equity put/call volume ratio across all 12 options exchanges checks in at 0.80, with calls outstripping puts. Currently, 4.06 million calls have changed hands, compared to 3.26 million puts.

  3. Among the equities with notable call volume is VeriFone Systems Inc (NYSE:PAY), which is up nearly 8% at $36.49, following last night's second-quarter earnings beat and stronger-than-expected top-line guidance for the current quarter. Earlier, the stock also received a trio of price-target hikes, and hit a multi-year high of $36.74. On the options front, PAY's total volume almost quadruples the average intraday amount, and 93.4% of today's activity has transpired on the call side.

  4. In the latest American Association of Individual Investors (AAII) survey, the percentage of bulls spiked to 36.5% from 30.4%, and notched a 10-week high. Meanwhile, the percentage of bears and neutral investors both fell -- to 23.2% (from 26.4%) and 40.3% (from 43.2%), respectively.

  5. The CBOE Volatility Index (VIX) is down 0.5 point, or 3.9%, at 11.22 -- after earlier bottoming at a new annual low of 11.14 -- putting it on track for its third straight weekly finish below the 12 level.

  6. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) -- currently hovering 3.8% lower at $30.73, and fresh off a record low of $30.56 -- is 1.28, with puts outnumbering calls.

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

Unusual Option Volume at Midday

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