Stocks quoted in this article:
The Dow Jones Industrial Average (DJI - 12,527.26) is down 27 points, or 0.2%, erasing its earlier gains as investors fretted over details for the newly approved Spanish banking bailout deal and the upcoming election in Greece. Elsewhere, the CBOE Market Volatility Index (VIX - 21.47) is down 0.2 point, or 1.1%.
Here are a few noteworthy stats at midday:
- The equity put/call volume ratio across all nine options exchanges rests at 0.98, with 2.54 million calls changing hands so far today, compared to 2.50 million puts.
- Among the equities with heavy call activity is Duke Energy (DUK - 23.22), which had advanced by 0.3% so far today. The energy behemoth cruised to a new 11-year high of $23.32 earlier in the session after Credit Suisse upgraded the stock to "outperform" from "neutral" and raised its price target to $25.50 from $22. DUK confirmed that the Federal Energy Regulatory Commission "conditionally approved" a merger with sector peer Progress Energy Inc (PGN - 60.02).
- The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (VXX) stands at 1.18, with puts outstripping calls.
- The Nasdaq shows an advance/decline ratio of 0.79, signaling that the number of downward movers comfortably outpaces the advancers.
- Among the Nasdaq's major decliners is Diamond Foods Inc (DMND - 18.86), which has shed about 6.5% in intraday action. The food-products company was issued a delisting warning after revealing it won't meet the deadline for filing late quarterly reports. The negative headline pressured the security to a new multi-year low of $18.55.
- Research in Motion Limited (RIMM) charts are starting to look interesting on the long side. See what Bernie Schaeffer has to say about RIMM shares in Schaeffer on Charts.