Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Tops Record Closing High on Global Data

CenturyLink, Inc. calls are popular after an earnings beat

by 5/8/2014 11:53 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) has blazed a steady path higher today, and was last seen near its intraday peak at 16,605.21 -- a gain of 87 points, or 0.5% -- to trade north of its all-time closing high of 16,580.84. Wall Street is catching a tailwind from overseas, thanks to solid trade data from China and dovish chatter from European Central Bank President Mario Draghi. On the home front, speculators are applauding a steeper-than-expected drop in weekly jobless claims, while keeping an eye on Fed Chair Janet Yellen's testimony on Capitol Hill.

Here are a few noteworthy stats at midday:

  1. The advance/decline ratio on the Nasdaq Exchange stands at 1.95, with advancing stocks nearly doubling the declining issues.

  2. The equity put/call volume ratio across all 12 options exchanges is currently perched at 0.88, with calls outpacing puts. So far today, 3.64 million calls have changed hands, compared to 3.24 million puts.

  3. One name seeing heavy call trading today is communications concern CenturyLink, Inc. (NYSE:CTL), which is up 5.5% at $36.57 after reporting stronger-than-expected first-quarter earnings last night. So far, more than 85% of today's option volume has traded on the call side.

  4. The CBOE Volatility Index (VIX) is down 0.4 point, or 3.1%, at 12.98, but remains 0.5% higher on the week.

  5. Today's put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) stands at 2.07, with put volume more than doubling call volume so far. The ETN has shed 1.6% at midday to trade at $38.44, after earlier touching a new record low of $38.34.

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

Unusual Option Volume at Midday


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