Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Poised to End the Week on a Sour Note

CMG's earnings report sparks flurry of upbeat brokerage notes

by 4/19/2013 11:49 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is down 8 points, or 0.1%, to 14,529.30, following the latest round of earnings reports, which included lackluster results from International Business Machines Corp. (NYSE:IBM) and General Electric Company (NYSE:GE). The blue-chip barometer is on pace to finish the week 2.3% lower.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 11 options exchanges is docked at 1.04, with 4.3 million puts crossing the tape so far today, versus 4.1 million calls.

  2. Among the equities with heavy put activity is Skyworks Solutions Inc (NASDAQ:SWKS), despite tacking on 0.3% since the opening bell. Currently, puts represent 89.7% of the security's intraday option volume. At last check, SWKS was trading at $20.20.

  3. The New York Stock Exchange (NYSE) shows an advance/decline ratio of 3.16, with the number of upward movers nearly tripling the decliners.

  4. Among the NYSE's major advancers is Chipotle Mexican Grill, Inc. (NYSE:CMG), which has gained about 9.6% in intraday action, after topping analysts' bottom-line earnings projections post-close yesterday. The results also trigged a wave of bullish brokerage notes, as BMO lifted its price target to $375 from $310 this morning, while Credit Suisse, Barclays, Lazard, RBC, and Jefferies also upwardly revised their respective price targets. CMG is presently trading at $359.78.

  5. Optimism increased during the week ended April 17, 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 26.9% from 19.3%, while the percentage bearish fell to 48.2% from 54.5%. Meanwhile, the percentage neutral dropped to 24.9% from 26.2%.

  6. The CBOE Market Volatility Index (INDEXCBOE:VIX) is 2.4 points, or 13.4%, lower, to hover at 15.21.

  7. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) -- currently perched at 20.68 -- sits at 1.66, with puts easily outnumbering 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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