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

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:

• Option bears are circling this struggling java giant, while bulls are betting on a rebound for this scandal-ridden flooring firm.
• In case you missed it, why stock pickers could be cheering.
• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

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%.

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.