Real-Time Market Insights
Hot Stock News for Options Traders
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is pointed higher ahead of the bell, as stimulus hopes out of China and Europe stoke investor sentiment across the globe. Back on the homefront, traders will be digesting a report on durable goods for February, as well as speeches from a pair of Federal Reserve officials. Specifically, St. Louis Fed President James Bullard and Philadelphia Fed President Charles Plosser overnight both took a cautious stance toward raising short-term interest rates.

Looking at the charts, Schaeffer's Senior Trading Analyst Bryan Sapp said, "Given that technology has lagged the rest of the market during the past week or so -- and sparked the sell-off Monday morning -- I'm keeping a very close eye on the Nasdaq-100 Index's (NDX) 50-day moving average, which is located near 3,620. The past two days, the index broke significantly below this trendline, but was able to retake it yesterday afternoon. Some strength by technology stocks could be what leads the broad market to new peaks, should these high-beta names find some support here."

Plus, our Trading Topic of the Week -- Tips for Buying Weekly Options: Look for a catalyst. Check the stock's fundamental, technical, and sentiment data to pinpoint possible triggers for a big move.

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 sitting 62 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,201,404 call contracts traded on Tuesday, compared to 641,657 put contracts. The resultant single-session put/call ratio fell to 0.53, while the 21-day moving average stayed at 0.59.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"Anecdotally, I'm seeing a lot of 'bubble' and 'overvalued' talk," commented Sapp. "Every day that markets sell off, even in the slightest, it has been pretty common to see bears doing victory laps. However, on up days, you'll see a general sense of apathy toward the market. While this isn't an exact science, short-interest trends in S&P 500 Index (SPX) names support the thesis that people are doubting the bull. So long as shorts continue to come in and bet against stocks, that will add fuel to the rally."

Currencies and Commodities

  • The U.S. dollar index is up 0.1% in pre-market trading, with the currency hovering around 80.06.
  • Ahead of today's weekly inventories update, crude oil is flirting with a 0.2% gain. At last check, crude for May delivery was trading at $99.38 per barrel.
  • Elsewhere, gold futures are pointed 0.3% higher, with the malleable metal lingering near $1,315.80 an ounce.
Currencies and commodities

Earnings and Economic Data

Durable goods orders for February and the regularly scheduled crude inventories report will be released today. Francesca's (FRAN) and Paychex (PAYX) are scheduled to release quarterly results.

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