Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Heads South in Quiet Trading Session

DWA shares feel the weight of some bearish analyst attention

by 2/6/2013 11:50 AM
Stocks quoted in this article:

Amid an empty economic docket, the Dow Jones Industrial Average (DJI - 13,969.55) is down 10 points, or 0.1%, as investors take a breather from the market's recent rally, and digest the latest round of quarterly earnings reports. Elsewhere, the CBOE Market Volatility Index (VIX - 13.74) is 0.02 point, or 0.2%, higher.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 11 options exchanges checks in at 0.87, with 3.3 million calls traded so far today, versus 2.9 million puts.

  2. Among the equities with heavy call activity is Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL - 19.43), despite falling almost 6% after reporting weaker-than-anticipated fourth-quarter earnings this morning. Currently, calls represent 94.4% of the casino operator's intraday option volume.

  3. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX - 23.73) sits at 1.18, with puts outpacing calls.

  4. The Nasdaq shows an advance/decline ratio of 0.83, with the number of downward movers outstripping the advancers.

  5. Among the Nasdaq's major decliners is Dreamworks Animation Skg Inc (NASDAQ:DWA - 16.70), which has shed more than 4% in intraday action. The animated film giant was downgraded to "neutral" from "overweight" at Piper Jaffray ahead of the open. The brokerage firm said DWA's decision to push back the release of Mr. Peabody & Sherman from November to March 2014 -- thus leaving the studio with only two films scheduled for release this year -- triggered the downward rating adjustment.
Unusual Option Volume at Midday

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