Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Rebounds from Monday's Decline

CSC touches a new high on strong quarterly earnings results

by 2/5/2013 12:11 PM
Stocks quoted in this article:

The Dow Jones Industrial Average (DJI - 13,986.15) is up 106 points, or 0.8%, thanks to some encouraging economic data from across the pond, as well as a round of well-received quarterly earnings reports that included ARM Holdings plc (ADR) (NASDAQ:ARMH). On the home front, the Institute for Supply Management's (ISM) non-manufacturing index arrived at 55.2 in January, down from the previous month's revised reading of 55.7. Economists, on average, were expecting a reading of 55.0. Meanwhile, a report from CoreLogic showed home prices in December climbed by their highest margin since May 2006. Elsewhere, the CBOE Market Volatility Index (VIX - 13.77) is 0.9 point, or 6.1%, lower.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 11 options exchanges sits at 1.00, with both calls and puts seeing about 3.4 million contracts cross the tape.

  2. Among the equities with call-skewed activity is Arch Coal Inc (NYSE:ACI - 6.43), despite suffering an earnings-induced decline of about 7%. Currently, calls make up 57.3% of the coal concern's intraday option volume. At the other end of the spectrum is Yum! Brands, Inc. (NYSE:YUM - 62.12), which has seen 68% of its option activity trade on the put side of the aisle. At last check, the quick-service restaurateur has lost nearly 3% -- and sunk to new annual low of $59.68 -- due to a weak full-year earnings outlook.

  3. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX - 23.68) stands at 0.92, with calls outnumbering puts.

  4. The New York Stock Exchange (NYSE) shows an advance/decline ratio of 2.50, with the number of upward movers more than doubling the decliners.

  5. Among the NYSE's major advancers is Computer Sciences Corporation (NYSE:CSC - 46.43), which has jumped around 11% -- and tagged a new multi-year high of $46.61 -- in intraday trading. The tech company reported better-than-expected fiscal third-quarter earnings ahead of opening bell.
Unusual Option Volume at Midday

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