Dow Jones Industrial Average Flat; S&P, Small-Caps Notch Milestones

The SPX and RUT have reached record highs once again

Dec 29, 2014 at 11:36 AM
facebook twitter linkedin

The Dow Jones Industrial Average (INDEXDJX:DJI) is little changed around midday, up just over 11 points, as concerns about Greece's presidential election have slowed the index's recent momentum. However, the news wasn't enough to stop the S&P 500 Index (SPX) and Russell 2000 Index (RUT) from hitting their latest all-time highs of 2,093.46 and 1,220.81, respectively. On the economic front, today's lone data point was disappointing, as the Dallas Fed manufacturing survey fell by a wider-than-expected margin in December, hurt by the ongoing downturn in energy. Today, however, energy stocks are among the Street's best performers, thanks to a rebound in oil.

Continue reading for more on today's market -- and don't miss:

Midday Market Stats

Among the stocks with notable put volume is drugmaker Raptor Pharmaceutical Corp. (NASDAQ:RPTP). The stock is up 8.2% at $10.42, and put volume has shot to 29 times the intraday norm. Digging deeper, traders appear to be initiating positions at the May 10 put, banking on either a long-term retreat or technical floor.

For more midday statistics and stocks on the move, head to page 2.

Machinery manufacturer Manitowoc Company (NYSE:MTW) is among the biggest advancers on the Big Board -- up 9.3% at $22.87 amid Carl Icahn's call for the company to split in two. The gap higher has the shares poised to close above their 100-day moving average (lodged at $22.76) for the first time since early September.

Daily Chart of MTW Since August 2014 with 100-Day Moving Average

Video-processing chipmaker Ambarella Inc (NASDAQ:AMBA) is having a rare down day -- tumbling 5.4% to $52.95, thanks to an early morning downgrade. This makes it one of the biggest losers on the Nasdaq. Nevertheless, the shares remain more than 56% higher on a year-to-date basis.

The CBOE Volatility Index (VIX) is up 0.8 point, or 5.7%, at 15.32. However, it looks like the 20-day moving average, at 16.18, is containing the "fear gauge's" intraday upside.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.11, with puts having a slight edge over calls. At last check, SPY is up 0.2 point, or 0.5%, at $208.90.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners