Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Treks South of 13,000

Bullish brokerage note pushes KCG higher

by 11/26/2012 11:46 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (DJI - 12,914.96) is down 95 points, or 0.7%, as concerns regarding the euro zone and the looming fiscal cliff reclaim the spotlight on Wall Street. Meanwhile, the Chicago Fed reported that its National Activity Index arrived at -0.56 last month, down from September's flat reading of zero. Elsewhere, the CBOE Market Volatility Index (VIX - 15.83) is 0.7 point, or 4.6%, higher.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 10 options exchanges sits at 0.88, with 2.9 million calls exchanged so far today, versus 2.6 million puts.

  2. Among the equities with heavy call activity is Knight Capital Group Inc. (NYSE:KCG - 2.75), which has jumped more than 10% today. The investment firm was upgraded to "market perform" from "underperform" at Keefe, Bruyette & Woods this morning, amid rumors that KCG is in talks to sell its market-making operation. Currently, calls account for 90.6% of the stock's intraday option volume.

  3. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX - 30.31) -- which tagged a new record low of $29.73 earlier in the session -- stands at 0.98, with calls slightly outpacing puts.

  4. The New York Stock Exchange (NYSE) shows an advance/decline ratio of 0.44, with the number of downward movers more than doubling the advancers.

  5. Among the NYSE's major decliners is Aeropostale, Inc. (NYSE:ARO - 13.44), which has shed about 7% in intraday action, after receiving some downbeat analyst attention ahead of the opening bell.
Unusual Option Volume at Midday

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