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Hot Stock News for Options Traders

Dow Jones Industrial Average Edges North; Blue-Chip Earnings, Fed Speeches on Tap

Blue chips KO and JNJ both reported quarterly earnings ahead of the bell

by 4/15/2014 8:17:44 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:DJI) is churning slightly above the flat line this morning, after notching a triple-digit gain on Monday. It's going to be a busy day on the Street, with a number of market-moving events on the calendar. Among equities, blue chips The Coca-Cola Company (NYSE:KO) and Johnson & Johnson (NYSE:JNJ) both released quarterly earnings results ahead of the bell. On the economic side, reports on inflation, factory activity, and housing are due. Additionally, Fed Chief Janet Yellen will give the opening remarks at a Federal Reserve conference in Atlanta, Ga.

Meanwhile, as Schaeffer's Senior Options Strategist Tony Venosa, CMT, notes, "Stocks experienced a volatile session on Monday, but the S&P 500 Index (SPX) managed to create an 'inside day' -- meaning the intraday range on Monday was narrower than Friday's. Keep a close eye on the $180 level in the SPDR S&P 500 ETF (SPY), as enormous put open interest resides at this strike, and could act as a major barrier for downside action this holiday-shortened expiration week."

Plus, our Trading Topic of the Week -- Tips for Short-Term Trading: Check the charts for key support and resistance levels.. Your time frame may be brief, but don't neglect those long-term charts -- or you could overlook a key stumbling block for the underlying stock.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are nearly 9 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 930,636 call contracts traded on Monday, compared to 569,535 put contracts. The resultant single-session put/call ratio dropped to 0.61, while the 21-day moving average remained at 0.59.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is sitting just 0.1% higher at 79.84 ahead of the bell.
  • Crude oil, meanwhile, is down 0.8% to trade at $102.38 per barrel, after surging to a six-week high in yesterday's session.
  • Gold futures are down in pre-market trading, as well, and were last seen 1.7% lower at $1,305 an ounce.
Currencies and commodities

Earnings and Economic Data

Economic reports scheduled for today include the consumer price index (CPI) and core CPI, the Empire State manufacturing survey, Treasury International Capital (TIC) data, and the NAHB housing market index. KO, Intel (INTC), JNJ, Yahoo! (YHOO), Charles Schwab (SCHW), Comerica (CMA), Infosys (INFY), and The Pep Boys (PBY) will step up to the earnings plate.

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