After last week's slide, the Dow Jones Industrial Average (DJI) is ready for a fresh start, with the blue-chip barometer pointed higher ahead of the bell. "The selling pressure eased up on Friday, as markets were able to put in a slightly positive session," said Schaeffer's Senior Options Strategist Tony Venosa. "The technology sector -- which has been a severe laggard the past two months -- was the leader, with the PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) closing up more than 0.4%."
Futures on the Dow Jones Industrial Average are roughly 36 points above fair value.
Equity option activity on the Chicago Board Options Exchange (CBOE) saw 911,319 call contracts traded on Friday, compared to 744,389 put contracts. The resultant single-session put/call ratio rose to 0.82 -- the highest since late August -- while the 21-day moving average increased to 0.72.
From the Trading Floor
"First and foremost, I would like to express my gratitude to the men and women who serve our great nation," continued Venosa. "As for the markets, it's November options expiration week, so I expect volatility to pick up as the unwinding of option positions gets underway."
Currencies and Commodities
Earnings and Economic Data
There are no economic reports in observance of Veterans Day. Bond markets and banks will also be closed. However, Wall Street will hear earnings reports from Beazer Homes (BZH), DR Horton (DHI), and Hologic (HOLX).
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