Dow Jones Industrial Average Dives 218; OECD, China in Focus

Dow Drops 200; Plus, Are You Ready to Start Trading Options?

by Josh Selway

Published on Nov 9, 2015 at 12:19 PM

The Dow Jones Industrial Average (DJIA) is sliding at midday, giving back more than 200 points -- and its foothold in positive year-to-date territory. Weak Chinese trade data and a dreary global outlook from the Organisation for Economic Cooperation and Development (OECD) got the bearish ball rolling this morning. In addition, losses have been compounded by growing expectations for a December rate hike following Friday's stellar jobs report -- though the Fed fear may not be warranted. At last check, International Business Machines Corp. (NYSE:IBM) and Caterpillar Inc. (NYSE:CAT) are leading the blue chips lower, while the S&P 500 Index (SPX) and Nasdaq Composite (COMP) are also swimming in the red.


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

 

151109MMC22


Among the stocks with notable put activity is General Motors Company (NYSE:GM). The contracts are crossing at an accelerated rate, even after Barron's extremely bullish write-up on the stock. It appears traders are betting on the automaker to close below $35 by week's end, buying to open the weekly 11/13 35-strike put. The shares were last seen 0.3% lower at $35.65. 

One of today's big winners on the Big Board is Plum Creek Timber Co. Inc. (NYSE:PCL). The company is being bought by fellow timber concern Weyerhaeuser Co (NYSE:WY). The shares of PCL were last seen 16.1% higher at $46.77, and just off a two-year high of $47.02.

Among the leading losers on the Nasdaq is MannKind Corporation (NASDAQ:MNKD). The stock is down 15.6% at $2.43, and just hit a two-year low of $2.38, after failing to meet the Street's earnings expectations. It's been a rough quarter so far for the biotech, but that's not exactly surprising


151109MNKD


The CBOE Volatility Index (VIX) is up 2.5 points, or 17.3%. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.86, with puts handily outnumbering calls. The SPY was last seen 2.5 points, or 1.2%, lower at $207.57. 


CHART



CHART

CHART
CHART

A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Nevada Discovery That Could Jeopardize Chinese Dominance
Click to continue to advertiser's site.
Extra Space Storage Stock Wavers After Downgrade
Raymond James downgraded to "underperform" from "market perform"
DKS to Continue Providing Benefits to Furloughed Workforce
DKS has seen an increase in put open interest over the past year
The Top Lithium Play of 2020
Click to continue to advertiser's site.