Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Conquers the 15,000 Level

GILD surges on the heels of a strong quarterly earnings report

by 5/3/2013 11:49 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is up 156 points, or 1.1%, to 14,987.58, courtesy of this morning's positive jobs data. The Labor Department said employers added 165,000 jobs last month, easily trumping consensus estimates. Meanwhile, the unemployment rate dropped to 7.5%, marking its lowest level since December 2008. Economists, on average, had expected the rate to remain unchanged from April. These latest figures propelled the blue-chip barometer to a fresh all-time intraday high of 15,009.59 earlier in the session, and overshadowed a pair of less-than-stellar economic reports. Specifically, the Commerce Department said factory orders fell by a larger-than-anticipated 4% in March to a seasonally adjusted $467.29 billion. Also of note, the ISM's non-manufacturing index unexpectedly declined to 53.1 in April, its weakest reading since July 2012.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 11 options exchanges is docked at 0.78, with 4.9 million calls changing hands so far today, compared to 3.8 million puts.

  2. Among the equities with heavy call activity is Dick's Sporting Goods Inc (NYSE:DKS), which has climbed about 2% since the opening bell. The sporting goods retailer appointed Andre J. Hawaux -- an executive at ConAgra Foods, Inc. (NYSE:CAG) -- to succeed retiring Timothy Kullman as chief financial officer. Currently, calls represent 85.1% of the security's intraday option volume. At last check, DKS was trading at $49.61.

  3. The Nasdaq shows an advance/decline ratio of 4.20, with the number of upward movers more than quadrupling the decliners.

  4. Among the Nasdaq's major advancers is Gilead Sciences, Inc. (NASDAQ:GILD), which has spiked around 6.4% -- and tagged a new record peak of $56.35 -- in intraday action, after reporting a 63% increase in first-quarter profits on Thursday. The results also triggered a round of price-target hikes from the likes of Needham Research, Guggenheim, Stifel Nicolaus, and S&P Capital IQ. GILD is presently trading at $55.53.

  5. Optimism increased during the week ended May 1, 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 31.0% from 28.3%, while the percentage bearish dropped to 35.9% from 38.8%. Meanwhile, the percentage neutral rose to 33.1% from 32.9%.

  6. The CBOE Market Volatility Index (INDEXCBOE:VIX) is 0.7 point, or 5.1%, lower, to explore the 12.90 area.

  7. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) -- currently resting at 18.77 -- sits at 1.62, with puts easily outnumbering calls.

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

Unusual Option Volume at Midday

permanent link

Partner Center

© 2015 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email:

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by | Data delayed 15-20 minutes unless otherwise indicated.