Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Flutters Around Breakeven

DHI touches a new high on strong quarterly earnings

by 4/26/2013 11:55 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is down 8 points, or 0.1%, to 14,692.46, as investors digest the latest batch of earnings and lackluster economic data. The Commerce Department said gross domestic product (GDP) grew at a slower-than-expected annual rate of 2.5% in the first quarter, while the final April reading of the Thomson Reuters/University of Michigan consumer sentiment index arrived at 76.4. Although the latest figure topped economists' expectations, it still marked a decrease from last month's final reading of 78.6.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 11 options exchanges sits at 0.83, with 3.5 million calls changing hands so far today, compared to 3.0 million puts.

  2. Among the equities with call-skewed activity is D.R. Horton, Inc. (NYSE:DHI), which has gained about 7.4% -- and tagged a new multi-year high of $26.38 -- today, after revealing stronger-than-anticipated fiscal second-quarter earnings this morning. Currently, calls account for 81.1% of the homebuilder's intraday option volume. At last check, DHI was trading at $26.34.

  3. The Nasdaq shows an advance/decline ratio of 0.47, with the number of downward movers more than doubling the advancers.

  4. Among the Nasdaq's major decliners is Deckers Outdoor Corp (NASDAQ:DECK), which has shed around 9.7% in intraday action. The firm reported an unexpected first-quarter profit on Thursday, but also issued a second-quarter outlook that fell below analysts' projections. However, several brokerage firms were focused on the bottom-line results this morning, as Canaccord Genuity, RBC, and Credit Suisse upped their price targets for the stock. DECK is presently trading at $53.64.

  5. Optimism climbed during the week ended April 24, according to the latest survey by the American Association of Individual Investors (AAII). The percentage of investors with a bullish view on stocks rose to 28.3% from 26.9%, while the percentage bearish fell to 38.8% from 48.2%. Meanwhile, the percentage neutral jumped to 32.9% from 24.9%.

  6. The CBOE Market Volatility Index (INDEXCBOE:VIX) is 0.5 point, or 3.7%, higher, to hover at 14.13.

  7. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) -- currently perched at 19.58 -- checks in at 1.17, with puts outweighing calls.

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

Unusual Option Volume at Midday


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