Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Eyes a Triple-Digit Gain

TZOO shares enjoy an earnings-induced rally

by 1/24/2013 11:56 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (DJI - 13,865.04) is up 86 points, or 0.6%, as some upbeat global and domestic economic data has tempered this morning's lackluster quarterly earnings report from Apple Inc. (NASDAQ:AAPL). On the home front, the Labor Department said first-time jobless claims decreased by 5,000 to a seasonally adjusted 330,000 last week. This latest figure notched a five-year low, and bested economists' expectations for a drop to just 360,000. Elsewhere, the CBOE Market Volatility Index (VIX - 12.60) is 0.1 point, or 1.1%, higher.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 11 options exchanges checks at 0.73, with 4.9 million calls crossing the tape so far today, compared to 3.6 million puts.

  2. Among the equities with heavy call activity is Tempur-Pedic International Inc. (NYSE:TPX - 38.21), which has gained around 9%, despite a lack of notable news drivers. Currently, calls account for 84.8% of the mattress guru's intraday option volume.

  3. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX - 22.74) -- which tagged yet another record low of 22.45 earlier in the session -- sits at 1.80, with puts almost doubling calls.

  4. The Nasdaq shows an advance/decline ratio of 1.85, with the number of upward movers outstripping the decliners by a margin of nearly 2-to-1.

  5. Among the Nasdaq's major advancers is Travelzoo Inc. (NASDAQ:TZOO - 23.78), which has soared almost 24% in intraday action, after reporting stronger-than-expected fourth-quarter earnings ahead of the open.

  6. Optimism increased during the week ended Jan. 23, according to the latest survey by the American Association of Individual Investors (AAII). The percentage of investors with a bullish view on stocks rose to 52.3% from 44.0%, while the percentage bearish dropped to 24.3% from 27.3%. Meanwhile, the percentage neutral fell to 23.4% from 28.7%.
Unusual Option Volume at Midday


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