The Dow Jones Industrial Average (INDEXDJX:.DJI) is poised to follow its European counterparts into the green, with futures sitting modestly higher ahead of the bell. As Schaeffer's Senior Options Strategist Tony Venosa, CMT, notes, though, "Little economic data and a lack of earnings reports this morning could set the stage for another quiet session. However, watch the homebuilders this week, as these names continue to move higher despite worse-than-expected housing data of late."
Meanwhile, "Friday options expiration turned out to be a non-eventful day, as the major indexes grinded sideways -- which pretty much sums up the price action of last week," continued Venosa. "The SPDR S&P 500 ETF (SPY) closed slightly below peak February call open interest at the 184 strike, which remains just off the security's 52-week high."
Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are nearly 42 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,619,551 call contracts traded on Friday, compared to 894,944 put contracts. The resultant single-session put/call ratio fell to 0.55, while the 21-day moving average remained at 0.60.
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Earnings and Economic Data
The Dallas Fed's manufacturing survey will kick off the week's lineup of economic reports. Live Nation Entertainment (LYV), SINA Corp (SINA), SolarCity (SCTY), Texas Roadhouse (TXRH), and Vivus (VVUS) will report earnings.
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