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Hot Stock News for Options Traders

Dow Jones Industrial Average Futures Tick Higher; All Eyes on Payrolls

Crude oil is on pace to snap its three-day winning streak

by 2/7/2014 8:07:37 AM
Stocks quoted in this article:

"The Dow Jones Industrial Average (INDEXDJX:.DJI) rebounded sharply on Thursday, as hopes for an upbeat January employment report set in," mentioned Schaeffer's Senior Options Strategist Tony Venosa, CMT. "The data is set for release at 8:30 a.m. ET this morning." Economists are expecting the report to show the economy added 189,000 jobs last month. Ahead of the highly anticipated event, futures on the DJI are pointed modestly higher.

Elsewhere, "The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) saw a possible put unwind yesterday, as a massive amount of open interest at the 175 strike may have been a factor. SPY shares rallied into last week's low, which had acted as support, but may serve as resistance in the near term."

Plus, our Trading Topic of the Week -- Reasons to Dodge Directional Risk: Reduce your reliance on stop-losses. With straddles, your dual directional exposure means you won't suffer major initial losses due to market volatility or adverse price movement.

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 more than 24 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,258,650 call contracts traded on Thursday, compared to 765,132 put contracts. The resultant single-session put/call ratio dipped to 0.61, while the 21-day moving average remained at 0.58.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is up 0.1% ahead of the bell, with the greenback last seen at 80.99.
  • Crude oil, meanwhile, is on pace to snap its recent winning streak, with crude for March delivery down 0.3% at $97.54 per barrel.
  • Elsewhere, gold futures are looking at a third straight day of gains, with the front-month contract 0.4% higher to trade at $1,262.10 an ounce.
Currencies and commodities

Earnings and Economic Data

The highly anticipated nonfarm payrolls report for January will hit the Street on Friday. Closing out the week's earnings lineup are Apollo Global Management (APO), CBOE Holdings (CBOE), CIGNA (CI), and Wyndham Worldwide (WYN).

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