Dow Jones Industrial Average Aims For Seventh Straight Win

Has the Volatility Spike Run Its Course?

by Josh Selway

Published on Oct 12, 2015 at 12:01 PM
Updated on Jun 24, 2020 at 10:16 AM

The Dow Jones Industrial Average (DJIA) struggled for direction early on, but was last seen modestly higher, attempting to notch its seventh straight gain. Activity has been relatively light on Columbus Day, but should pick up tomorrow, with three Dow components set to report. The Street will also be monitoring speeches from several Fed officials throughout the day. Elsewhere, crude is slipping, after the Organization of the Petroleum Exporting Countries (OPEC) said output rose in September. 

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

 



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Among the stocks with notable put volume is Merck & Co., Inc. (NYSE:MRK). The contracts are crossing at 1.3 times the normal midday pace. It looks like traders are taking an intermediate-term approach, buying to open the stock's January 2016 55-strike put. Shares of the healthcare firm are 1.5% lower at $50.21, following some bearish analyst attention and bad news for its sector peer.

One of the top gainers on the Nasdaq is Aquinox Pharmaceuticals Inc (NASDAQ:AQXP). The pharma name is 15% higher at $14.83, thanks to a price-target hike to $24 at Cowen and Company. The stock was already up 130% year-over-year coming into today, thanks to a mid-August bull gap


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Among the biggest losers on the Big Board is Lumber Liquidators Holdings Inc (NYSE:LL), as the shares have fallen 8.7% to $17.21. This is a major reversal from Friday's action, when the flooring name surged on news it reached a settlement with the Department of Justice

The CBOE Volatility Index (VIX) is off 0.5 point, or 2.9%, as it will look to avoid closing below its 10-week moving average for the third straight week. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.60, with puts outnumbering calls. SPY was last seen 0.2 point, 0.1%, lower at $201.12. 


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