Schaeffer's Trading Floor Blog

Midday Market Stats: The Boeing Company Pressures the Dow Jones Industrial Average

FuelCell Energy Inc jumps on expansion news, while Perfect World Co., Ltd. (ADR) pulls back

by 3/10/2014 11:57 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is lower at midday, pressured south by blue-chip component The Boeing Company (NYSE:BA). Over the weekend, the aircraft issue disclosed "hairline cracks" in the wings of a line of 787 Dreamliners that are currently in production. Adding to the risk-off backdrop is a pair of reports showing an unexpected decline in China's exports and a lower-than-forecast reading on Japan's gross domestic product, calling into question the state of the global economy. Against this backdrop, the DJI is down 81.98 points, or 0.5%, at 16,370.74.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges stands at 0.81, with call volume outweighing put volume. So far today, 3.07 million calls have changed hands, compared to 2.51 million puts.

  2. Among names seeing heavy call activity today is FuelCell Energy Inc (NASDAQ:FCEL), which is up 11.9% to trade at $3.95. Earlier, the stock hit a four-year high of $4.17. The company announced on Friday it will build a fuel cell power plant at its Torrington, Conn.-based facility to generate heat, hydrogen, and electricity. At last check, roughly 84% of the day's option activity had occurred on the call side.

  3. The advance/decline ratio on the Nasdaq stands at 0.64. Declining stocks are currently outpacing advancing ones by a greater than 3-to-2 margin.

  4. A notable decliner on the Nasdaq today is Perfect World Co., Ltd. (ADR) (NASDAQ:PWRD), which is off 8% at last check to linger near $23.02. Last Thursday, the equity hit a nearly three-year high of $26.25 -- sending PWRD through its upper Bollinger Band, and suggesting a near-term pullback may have been in the cards.

  5. The CBOE Volatility Index (VIX) is up 0.52 point, or 3.7%, to 14.63. Earlier, the market's "fear gauge" moved north of its 40-day moving average -- located at 15.00 -- for the first time since March 3.

  6. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) stands at 1.89, with puts nearly doubling calls. The ETN has gained 1.3% today to $44.49.

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

Unusual Option Volume at Midday

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