Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Up Following Two Consumer Reports

Sprint Corporation experiences heavy call activity, while Qihoo 360 Technology Co Ltd enjoys a price lift

by 3/28/2014 12:07 PM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is 114.6 points, or 0.7%, higher this afternoon at 16,378.83, following the release of a couple of mixed economic reports. Last month, consumer spending increased at its fastest rate since November, as the U.S. saw a slight rise in personal income. Nevertheless, the Thomson Reuters/University of Michigan's final consumer sentiment report for March came in at 80.0, down from last month's 81.6, indicating consumers are less optimistic about the overall economy than before. Despite the upward revision from the mid-March reading of 79.9, the figure fell just shy of economists' estimates.

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 4.04 million calls, compared to about 2.97 million puts, have crossed the tape so far.

  2. Among the names with call-heavy trading activity today is Sprint Corporation (NYSE:S). At last check, 87.1% of the stock's intraday options volume had changed hands on the call side. Meanwhile, on the charts, S shares are up 0.2% today to trade at $9.29, amid speculation that Sprint may enter a broadband partnership with DISH Network Corp (NASDAQ:DISH).

  3. The New York Stock Exchange (NYSE) shows an advance/decline ratio of 4.40, with advancers outnumbering declining stocks by a margin of more than 4-to-1.

  4. Among the top performers on the NYSE today is Qihoo 360 Technology Co Ltd (NYSE:QIHU), which is up 5.2% to trade at $97.92, along with several other names in the recently underperforming tech sector.

  5. The CBOE Volatility Index (VIX) is on target to finish a fourth consecutive session below the 15 mark, currently down 3.3% at 14.14.

  6. The iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) has shed 0.8% today to $43.70. Meanwhile, the ETN's put/call volume ratio stands at 0.88, with call volume easily outpacing put volume.

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

Unusual Option Volume

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