Schaeffer's Trading Floor Blog

Midday Market Stats: Gloomy Economic News Has Little Effect on Dow Jones Industrial Average

Ciena Corporation advances on upgrades, JA Solar Holdings on efficiency breakthrough

by 2/18/2014 11:56 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is flirting with breakeven at midday -- down just 0.2 point at 16,154.24 -- following a round of downbeat economic data. In particular, the NAHB housing market index came in well below estimates, and the Empire State manufacturing survey posted a sharper-than-expected month-over-month decline.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges checks in at 0.75, with calls outpacing puts. At last check, 3.61 million calls had been swapped, versus 2.72 million puts.

  2. Among the equities with significant call volume is Ciena Corporation (NYSE:CIEN), which is up 3.2% to trade at $25.81, benefitting from a pair of price-target hikes at Evercore Partners and MKM (in both cases, to $32 from $28). At last check, over 96% of CIEN's options volume had traded on the call side.

  3. The Nasdaq Exchange shows an advance/decline ratio of 2.73, with advancers outstripping declining issues by a nearly 3-to-1 margin.

  4. One of the Nasdaq's noteworthy gainers today is JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO), which has charged 7.7% higher to $10.35, after announcing that its multi-crystalline silicon solar cells have exceeded 19% conversion efficiency.

  5. The CBOE Volatility Index (VIX) has gained 0.5 point, or 3.3%, to 14.02, after finishing below the 14 level -- for the first time since Jan. 23 -- last Friday.

  6. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) -- down 0.4% at $41.77 -- registers at 0.93, with call volume slightly outweighing put volume.

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

Unusual Option Volume at Midday


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