Dow Jones Industrial Average Higher on Greece Sigh of Relief

With earnings season in full stride, the Dow Jones Industrial Average (DJIA) is sitting higher at the halfway point, though it's pared some of its early gains. On top of several impressive earnings reports, stocks continue to benefit from last night's Greek parliament vote. On the economic front, jobless claims beat expectations and homebuilder confidence remains at 10-year highs, while the Philadelphia Fed business survey came in slightly lower than last month's. Elsewhere, Fed Chair Janet Yellen continues her testimony in the nation's capital, which hasn't exactly been a walk in the park. 

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

• 2 red-hot IPOs making waves. Could one be the next Fitbit Inc (NYSE:FIT)? 
• The e-commerce stock hitting all-time highs, and the search giant awaiting the earnings spotlight. 
• 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 Dow component McDonald's Corporation (NYSE:MCD). Puts are crossing at seven times the expected intraday amount, and it appears some traders are buying to open the weekly 7/24 98-strike put. By doing so, speculators are betting on extended losses below $98 from MCD before the options expire at next Friday's close -- which encompasses the blue chip's turn in the earnings confessional next Thursday, July 23. The shares were last seen 1.5% lower at $97.56. 

One of the top gainers on the Nasdaq is Netflix, Inc. (NASDAQ:NFLX). The shares of the streaming giant have added 11.7% to trade at $109.59 -- and earlier hit a record high of $114.45 -- after the company  impressed in the earnings booth. 

GPS concern Garmin Ltd. (NASDAQ:GRMN) is one of the biggest losers on the Nasdaq today, sliding 9.4% to trade at $42.05, touching a nearly two-year low of $41.20 earlier. The shares are taking a hit after the company offered tepid preliminary quarterly numbers and lowered its full-year outlook. Amid this, J.P. Morgan Securities and Dougherty & Company have  lowered their price targets to $42 and $50, respectively. 

The CBOE Volatility Index (VIX) is lower once again, dropping 8.6% to hit 12.09, after earlier falling to 11.97 -- its lowest point since June 23. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.89, as puts continue to easily outpace calls. The SPY was last seen 0.6% higher at $211.90.