Dow Jones Industrial Average Dives on Durable Goods; Greece Gets a Lifeline

The ECB upped the emergency liquidity cap for Greek banks

Mar 25, 2015 at 11:49 AM
facebook twitter linkedin

The Dow Jones Industrial Average (DJIA) is extending its week-to-date losses, as traders react to an unexpected drop in durable goods orders -- and overlook a cooling dollar and an early morning speech from Chicago Fed President Charles Evans, who cautioned against raising interest rates in a low-inflation environment. Meanwhile, M&A buzz is bouncing around the Street, thanks to new developments for Kraft Foods Group Inc (NASDAQ:KRFT) and Lexmark International Inc (NYSE:LXK). Additionally, Wall Street continues to keep one eye trained overseas. Amid growing anxiety over Greece's debt issues, the European Central Bank (ECB) reportedly agreed to raise the emergency liquidity cap for the country's banks to around $78 billion.

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

Midday Market Stats

Among the stocks with notable option activity is fast-food giant Sonic Corporation (NASDAQ:SONC), with volume running at 10 times what's typically seen at this point in the day. The stock is down 9% at $33.36, despite a strong earnings report and subsequent round of price-target hikes. As such, it appears a number of option bulls are jumping ship, with sell-to-close activity detected at SONC's April 35 and 40 calls.

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

Christopher & Banks Corporation (NYSE:CBK) is one of the leading laggards on the Big Board. The stock has shed 9.6% to churn near $5.30 -- and moved back into the red on a year-to-date basis -- after the retailer's fourth-quarter earnings report, as well as current-quarter and full-year revenue outlook, missed analysts' estimates.

Apollo Education Group Inc (NASDAQ:APOL) is among the biggest losers on the Nasdaq, off 23.8% at $21.34 -- after earlier hitting an annual low of $21.14. The for-profit education firm turned in a dismal earnings report and uninspiring revenue outlook, and year-to-date, the shares have now lost 37.4%.

Daily Chart of APOL Since January 2015

The CBOE Volatility Index (VIX) is up 1 point, or 7%, and on pace for its first daily close north of 14 since last Thursday.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.92, with puts nearly doubling calls. SPY was last seen 0.7 point, or 0.7%, lower at $207.32.


Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners