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Hot Stock News for Options Traders

Dow Jones Industrial Average Futures Push Higher Ahead of Payrolls

Crude oil is poised to extend its lead over the century mark

by 4/4/2014 8:11:54 AM
Stocks quoted in this article:

"The Dow Jones Industrial Average (INDEXDJX:DJI) consolidated on Thursday -- albeit slightly -- as investors awaited today's nonfarm payrolls report for March, slated for release at 8:30 a.m. ET," said Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Elsewhere, technology issues remained volatile, as the Nasdaq Composite (COMP) lost nearly 1% on the day, while the energy sector gained 0.8%." Ahead of today's all-important data point, futures on the DJI are sitting modestly above breakeven. According to Dow Jones Newswires, Wall Street's whisper number is for a monthly gain of 200,000 jobs, and a slight dip in the unemployment rate to 6.6%.

Meanwhile, Venosa says to "Continue to watch the SPDR S&P 500 ETF Trust (SPY) $190 level today, as a positive reaction to the jobs report could lead shares toward this strike price, where peak call open interest for the April and weekly series resides."

Plus, our Trading Topic of the Week -- Trading Low-Priced Options: DO trade stocks with a favorable sentiment backdrop. At Schaeffer's, we use sentiment analysis to determine whether a stock's current trend is likely to continue. To maximize returns, we focus our efforts on outperforming stocks surrounded by skepticism, and lagging equities that continue to attract bullish attention.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are more than 36 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,036,264 call contracts traded on Thursday, compared to 616,291 put contracts. The resultant single-session put/call ratio jumped to 0.59, while the 21-day moving average remained at 0.60.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is lingering 0.04% above breakeven, with the currency last seen at 80.51.
  • Elsewhere, crude oil is on pace to extend its lead over the century mark, with the front-month contract up 0.9% at $101.20 per barrel.
  • Gold, meanwhile, is on the mend, with futures for the June contract 0.6% higher at $1,292.60 an ounce.
Currencies and commodities

Earnings and Economic Data

The week closes out with the Labor Department's nonfarm payrolls report for March. CarMax (KMX) will report earnings.

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