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Hot Stock News for Options Traders

Dow Jones Industrial Average, S&P 500 Poised to Maintain Uptrend

Japan's Nikkei jumped 2% on the back of a cooling yen

by 5/13/2014 8:10:33 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:DJI) isn't ready to quit its trek into uncharted waters, with futures pointed modestly higher ahead of the bell. As Schaeffer's Senior Options Strategist Tony Venosa, CMT, says, "May options expiration week began on a positive note, as across-the-board buying pushed the S&P 500 Index (SPX) to a new all-time closing high, led by beaten-down technology and small-cap names." Futures on the SPX are up in pre-market trading, as well.

In today's session, "The consumer discretionary sector should be in focus, as retail sales will be released at 8:30 a.m. ET," noted Venosa. Additionally, updates on import and export prices and business inventories, as well as a speech from Richmond Fed President Jeffrey Lacker, are on the morning's docket.

Plus, our Trading Topic of the Week -- 5 Ways to Interpret Short Interest: Weigh the short interest ratio. This handy little indicator tells you approximately how much future buying power is pent up among the short-selling crowd.

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 41 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,045,035 call contracts traded on Monday, compared to 552,397 put contracts. The resultant single-session put/call ratio plunged to 0.53, while the 21-day moving average dipped to 0.61.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"Keep an eye on the 190- and 192-strike prices for the SPDR S&P 500 ETF Trust (SPY), as huge May call open interest could cap additional rallies this week," continued Venosa.

Currencies and Commodities

  • The U.S. dollar index is up 0.2% ahead of the bell to trade at 80.09.
  • Elsewhere, crude oil is looking to extend its lead above the century mark, with the commodity 0.7% higher at $100.63 per barrel.
  • Gold, meanwhile, is on pace to pare a portion of Monday's gain, with the malleable metal down 0.4% at $1,290.20 an ounce.
Currencies and commodities

Earnings and Economic Data

Retail sales, import and export prices for April, and business inventories are set for release Tuesday. Meanwhile, Fossil (FOSL) and Take-Two Interactive (TTWO) will step up to the earnings plate.

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