Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Heads South of Breakeven

GLW shares enjoy an earnings-induced jump

by 4/24/2013 11:54 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is down 19 points, or 0.1%, to 14,700.26, as an upbeat earnings report from The Boeing Company (NYSE:BA) has been offset by poorly received results from fellow blue-chip components The Procter & Gamble Company (NYSE:PG) and AT&T Inc. (NYSE:T). Adding insult to injury, the Commerce Department said durable goods orders fell by a steeper-than-expected 5.7% last month, marking their biggest decline in seven months.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 11 options exchanges sits at 0.77, with 3.8 million calls traded so far today, compared to 3.0 million puts.

  2. Among the equities with heavy call activity is Corning Incorporated (NYSE:GLW), which has added about 4.7% since the opening bell, after topping analysts' bottom-line earnings estimates. The company also upped its quarterly dividend payout by a penny. Currently, calls make up 95.6% of the security's intraday option volume. At last check, GLW was trading at $13.75.

  3. The New York Stock Exchange (NYSE) shows an advance/decline ratio of 1.61, with the number of upward movers outweighing the decliners.

  4. Among the NYSE's major advancers is Boyd Gaming Corporation (NYSE:BYD), which has gained about 17% -- and tagged a new multi-year high of $10.55 -- in intraday action, courtesy of a stronger-than-anticipated first-quarter earnings report. BYD is presently trading at $10.44.

  5. The CBOE Market Volatility Index (INDEXCBOE:VIX) is 0.1 point, or 0.5%, higher, to linger in the 13.55 neighborhood.

  6. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) -- currently docked at 19.05 -- checks in at 0.81, with calls outpacing puts.

View a real-time chart of the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) here.

Unusual Option Volume at Midday


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