Dow Jones Industrial Average Poised to Take a Breather

The Dow Jones Industrial Average (DJIA) looks poised to cool off after last week's triumphant finish. Traders continue to mull over Friday's nonfarm payrolls report, with an eye toward this week's data, which picks up tomorrow with the Labor Department's Job Openings and Labor Turnover Survey. Also, investors are taking in the latest news from Asia, as the People's Bank of China (PBOC) reduced interest rates for the third time since November, and are keeping an eye on Greece bailout talks in Brussels. 

Continue reading for more on today's market, including:

• A two-year low had option bears piling on MannKind Corporation (NASDAQ:MNKD), while its sector peer was the target of a big bullish spread.
• Call volume exploded on this outperforming blue chip and this struggling semiconductor stock.
• Traders have been placing downside bets on this electric automaker -- find out why.

 And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are off 1.1 points. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.02 million call contracts traded on Friday, compared to 559,959 put contracts. The resultant single-session equity put/call ratio fell to 0.55, while the 21-day moving average remained at 0.64.

Currencies and Commodities

• The U.S. dollar index is up 0.3% at 95.07.
• Crude oil is slightly higher, adding 0.1% to $59.42 per barrel.
• Gold is off 0.2% at $1,187.10 an ounce.

Earnings and Economic Data

There are no notable economic reports scheduled for today. Actavis (ACT), Arrowhead Research (ARWR), Clean Energy Fuels (CLNE), Dean Foods (DF), DISH Network (DISH), Halozyme Therapeutics (HALO), Kandi Technologies (KNDI), Plug Power (PLUG), Rackspace Hosting (RAX), and Sotheby's (BID) will enter the earnings confessional. To see what else is on this week's agenda, click here.

Overseas Trading

Asian markets shot higher today, thanks to another interest rate cut from the PBOC. China's Shanghai Composite responded with a 3% gain, with Japan's Nikkei picking up 1.3%. South Korea's Kospi and Hong Kong's Hang Seng added 0.6% and 0.5%, respectively. 

European benchmarks are mostly lower, despite the news from China and ahead of a Greece-related meeting of eurozone finance ministers. France's CAC 40 has given back 1.3%, while Germany's DAX is off 0.3%. London's FTSE 100 is the positive outlier, adding 1.3% after the Bank of England decided not to raise interest rates. 

Unusual Put and Call Activity