Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Bounces Back, Commodities Gain

Chico's FAS, Inc. rallies after earnings; TiVo Inc. attracts call players post-earnings

by 8/28/2013 11:59 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is paring some of yesterday's steep losses, even as investors digest the latest developments surrounding potential missile strikes on Syria -- which could begin as soon as tomorrow. With more than half of its 30 components trading in the black, the Dow is currently up 55 points, or 0.4%, at 14,831.08.

In economic news, pending home sales fell 1.3% to 109.5 in July, noted the National Association of Realtors. This was slightly wider than the 1% drop expected by economists. On a year-over-year basis, however, the July index came in 6.7% higher. Elsewhere, commodities remain in advance mode amid Syria-inspired uncertainty. At last check, October-dated crude was sitting north of the $110-per-barrel mark despite an unexpected build in weekly crude stockpiles; meanwhile, gold was perched fractionally higher.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges stands near 0.83. So far today, roughly 3.0 million calls have crossed the tape, along with 2.5 million puts.

  2. TiVo Inc. (NASDAQ:TIVO) is among the names with call-skewed trading activity today; more than 60% of its options volume has crossed on the call side. The digital-recording pioneer announced second-quarter earnings last night, which resulted in some mixed brokerage activity ahead of the open. Still, the shares have tacked on 4.8% to trade at $11.50.

  3. The New York Stock Exchange (NYSE) shows an advance/decline ratio of 1.64. Advancing stocks are currently leading declining issues by a margin of more than 3-to-2.

  4. A notable leader on the Big Board today is Chico's FAS, Inc. (NYSE:CHS), which has climbed 6.4% to $16.31 after an initial move lower in pre-market activity. The retailer's second-quarter results failed to meet analysts' estimates, but the news was sweetened by reports of 4.9% sales growth in the current quarter to date.

  5. The CBOE Volatility Index (VIX) is back in the red today, down 0.5 point, or 3%, at 16.27. Yesterday, the market's fear barometer settled at its highest point since June 28.

  6. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) stands at 0.93, with call volume narrowly exceeding put volume. Today, the ETN is trading 1.3% lower at 16.31.

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

Unusual Option Volume at Midday


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