Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Edges 14 Points Higher

Strong quarterly earnings push FL to a new high

by 8/17/2012 11:53 AM
Stocks quoted in this article:

Unexpected increases in consumer sentiment and the Conference Board's leading economic index have pushed the Dow Jones Industrial Average (DJI - 13,264.44) a modest 14 points, or 0.1%, higher. Elsewhere, the CBOE Market Volatility Index (VIX - 13.95) is 0.3 point, or 2.4%, lower.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 10 options exchanges stands at 0.71, with 3.8 million calls changing hands so far today, versus 2.7 million puts.

  2. Among the equities with heavy call activity is Foot Locker, Inc. (NYSE:FL - 35.44), which has added about 2.8% today -- and tagged a new decade-plus high of $36 -- after reporting stronger-than-expected second-quarter earnings ahead of the open. Currently, calls make up 86.6% of the athletic shoe retailer's intraday option volume.

  3. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX - 11.37) checks in at 1.04, with puts slightly outnumbering calls.

  4. The Nasdaq shows an advance/decline ratio of 1.02, indicating that the number of upward movers outpaces the decliners.

  5. Among the NASDAQ's major downward movers is VIVUS, Inc. (NASDAQ:VVUS - 20.93), which has shed around 8% after being downgraded to "underperform" from "hold" and having its price target slashed to $16 from $31 at Jefferies earlier this morning.
Unusual Option Volume at Midday


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