The Dow Flirts With Record Highs on Merger Monday

Dow Hits Record on Merger Monday; Plus, the Biotech That's Given Back 70%

May 18, 2015 at 11:42 AM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) are exploring record intraday highs. On the economic front, the National Association of Home Builders (NAHB) housing market index -- today's only economic report -- unexpectedly declined in May. In addition, traders are eyeing a slew of M&A headlines, concerns about Greece, and the latest central bank comments ahead of this week's highly anticipated Federal Open Market Committee (FOMC) meeting minutes.  

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

 

MMC23

 

Among the stocks with notable call volume is LED focus Cree, Inc. (NASDAQ:CREE), with the contracts crossing at four times the expected intraday amount. A ton of action has taken place at the weekly 5/22 30.50-strike call, and it looks like traders are buying it to open. By doing so, traders expect CREE to extend its gains above $30.50 through week's end, when the series expires. The shares are 5% higher at $31.25, at last check, on reports the company will take its power and radio-frequency unit public

One of the top gainers on the Nasdaq is diagnostic firm OraSure Technologies, Inc. (NASDAQ:OSUR), as volume is at unusually high levels. At last check, the shares were 13.5% higher at $6.78, on pace to close above their 10-week moving average for the first time since late January. 

OSURMMC2

 

One of the top losers on the Big Board is 500.com Ltd (NYSE:WBAI). The stock is down 6.5% at $17.19 ahead of the company's first-quarter earnings report, scheduled tomorrow morning. Over the past three months, WBAI has outpaced the S&P 500 Index (SPX) by nearly 17 percentage points. 

The CBOE Volatility Index (VIX) is up 0.4 point, or 3.2%, at 12.78, but is still below its 10- and 20-day moving averages.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.77, with puts greatly outnumbering calls. SPY was 0.02 point, or 0.01%, higher at $212.46, at last glance. 

 

 

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