Dow Jones Industrial Average Surges Into Positive Year-to-Date Territory

Is the Worst Yet to Come for These 3 Stocks?

by Alex Eppstein

Published on Nov 20, 2015 at 12:11 PM

The Dow Jones Industrial Average (DJIA) is on track for its third triple-digit gain of the week, bringing it into the black on a year-to-date basis. Fueling the blue-chip boom is a rally in Nike Inc (NYSE:NKE) shares, and a bounce-back session by UnitedHealth Group Inc (NYSE:UNH), which are also contributing to rallies in the retail and healthcare sectors. Meanwhile, traders are digesting St. Louis Fed President James Bullard's latest remarks, with the noted hawk saying, "the zero interest rate policy could be ended soon" -- echoing last night's comments from Fed Vice Chair Stanley Fischer.

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Among the stocks with notable call volume is Chesapeake Energy Corporation (NYSE:CHK), with the contracts crossing at 11 times the expected intraday rate. According to Trade-Alert, one trader may have sold January 2016 5-strike puts to buy January 2016 7-strike and April 10 calls; more than 120,000 total contracts have changed hands at the three strikes. CHK is currently 4.3% south of breakeven at $5.17, and fresh off another 13-year low of $5.06.

Among the noteworthy winners on the Big Board is discount retailer Ross Stores, Inc. (NASDAQ:ROST), following a standout trip to the earnings confessional. At last check, the stock is 8.1% higher at $49.95 -- closing a bear gap from last Friday.

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One of the biggest losers on the Nasdaq is BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), as the drugmaker's experimental muscle-wasting treatment has come under scrutiny from the U.S. Food and Drug Administration (FDA). BMRN was last seen 4.7% lower at $98.28.

The CBOE Volatility Index (VIX) is down 1.2 points, or 7.3%, at 15.75.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.62, with puts outstripping calls. At last check, SPY is up 1.1 points, or 0.5%, at $209.65.


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