Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Up Slightly After Mixed Economic Data

Call players flood Garmin Ltd.'s options pits in the wake of an earnings win

by 4/30/2014 11:55 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) was up 10.5 points, or 0.06%, to 16,545.87 at last check, following this morning's stack of economic reports. In the first quarter, the Labor Department estimated that gross domestic product grew at its slowest annual rate since the fourth quarter of 2012, at 0.1% -- well short of economists' estimates for 1.1% growth. Offsetting the gloomy results, however, was upbeat news from the private sector, which created more jobs in April than analysts had anticipated, according to data from Automatic Data Processing (APD). Turning to the second half of the session, Wall Street will have its eyes peeled for the Federal Open Market Committee's latest policy decision, slated for 2 p.m. ET.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges stands at 0.85. Roughly 3.01 million calls, compared to about 2.56 million puts, have crossed the tape so far.

  2. Among the names with call-heavy trading activity today is GPS maker Garmin Ltd. (NASDAQ:GRMN). While the stock's overall options volume has ramped up to 11 times the average intraday norm, about 82% of these contracts have changed hands on the call side. Meanwhile, on the charts, GRMN hit a fresh six-year high of $59.57, following this morning's earnings win, and is now trading 3.8% above breakeven at $57.20.

  3. The CBOE Volatility Index (VIX) made its way back in the green, and at last check, was up 0.36% at 13.76.

  4. The iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) has gained 0.47% to $40.39. Meanwhile, the ETN's put/call volume ratio stands at 0.68, 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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