Dow Jones Industrial Average Futures Plunge on Greece's 'No' Vote

Dow Futures Fall 144; Plus, 3 Tips to Choose the Right Option

Jul 6, 2015 at 8:48 AM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA) is on pace to take a major hit today, with futures sharply lower after the people of Greece on Sunday voted against the bailout terms set forth by the country's creditors -- raising fears of a possible "Grexit" from the eurozone, as banks in the nation remain closed. However, controversy-courting Finance Minister Yanis Varoufakis resigned, removing one major obstacle to a deal with international lenders. Looking ahead, eurozone leaders will meet tomorrow in Greece, as the European Central Bank (ECB) weighs how long it should maintain emergency funding to the country's financial institutions.

Back at home, there's not much to distract traders from the uncertainty in Europe. The only item on today's economic docket is the Institute for Supply Management's (ISM) services index.

 

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

 

And now, on to the numbers…

150706Futures

Futures on the Dow Jones Industrial Average (DJIA) are 144.1 points below fair value. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 591,448 call contracts traded on Thursday, compared to 412,949 put contracts. The resultant single-session equity put/call ratio jumped to 0.70, while the 21-day moving average remained at 0.64.

150706ov2

150706ov3

Currencies and Commodities

  • The U.S. dollar index has moved 0.4% higher to 96.48. 
  • Crude oil is off 4.8% to $54.22 per barrel. 
  • Gold is up 0.06% at $1,164.20 per ounce. 

150706Commodities

 

Earnings and Economic Data

 

The economic calendar kicks off this week with the release of the ISM services index. It's a light day for earnings, with only A. Schulman (SHLM) set to report. To see what else is on this week's agenda, click here.

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including new efforts by Beijing to stem a sell-off in Chinese stocks, read Overseas Trading: Stocks Fall on 'Grexit' Fears; Chinese Government Steps In.

 

 

Unusual Put and Call Activity

 

150706ov6

 

150706ov7

 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial
 


 


 
Special Offers from Schaeffer's Trading Partners