Stocks quoted in this article:
An equity not taking part in today's broad downswing is oil-service name Global Marine (GLM – 31-11/16), which has accrued nearly five percent. With this upturn, the security is ready to close at its highest level in nearly four weeks. What's more, its 10-day and 20-day moving averages are poised to cross bullishly, an indication of near-term strength. Additionally, GLM has reclaimed its 10-week moving average.
On the options front this afternoon, 11,578 contracts have crossed the tape on the October 30 put. This out-of-the-money option has open interest of only 1,740 contracts, which means that most of today's volume should translate to new positions. This is currently among the most-active puts on the International Securities Exchange.