Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Up Despite Minimal Economic Activity

Jos. A. Bank Clothiers Inc and Yelp Inc are both enjoying price jumps

by 2/24/2014 11:50 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is up 140.2 points, or 0.87%, at 16,243.49 today, while the S&P 500 Index (SPX) bounced to a fresh record high of 1,855.77 earlier this morning. Meanwhile, Wall Street has little to digest on the economic front, though the Dallas Fed manufacturing index showed minimal expansion activity for February.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges stands at 0.73. Roughly 4,73 million calls, compared to about 3.49 million puts, have crossed the tape so far.

  2. Among the names with call-heavy trading activity today is Jos. A. Bank Clothiers Inc (NASDAQ:JOSB), which has seen almost 79% of its intraday options volume change hands on the call side. On the charts, the shares are up 8.1% to trade at $59.49, after tackling a new all-time high of $60.14, on news that The Men's Wearhouse, Inc. (NYSE:MW) upped its takeover offer on JOSB by 10%.

  3. The New York Stock Exchange (NYSE) shows an advance/decline ratio of 3.19, with advancers more than tripling declining stocks.

  4. Among the top outperformers on the NYSE today is Yelp Inc (NYSE:YELP), which is moving toward record-high territory, currently up 5.6% at $96.85 on seemingly no news.
  5. The CBOE Volatility Index (VIX) -- down 3.9% today to 14.11 -- is poised to finish the session south of the 15 mark for the third consecutive day.

  6. The iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) has fallen 1.8% today to $42.24. Meanwhile, the ETN's put/call volume ratio stands at 1.85, with put volume nearly doubling call volume.

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

Unusual Option Volume

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