Energy, North Korea Rock Dow Jones Industrial Average

More Pain Ahead for Apple & Suppliers?

by Kirra Fedyszyn

Published on Jan 6, 2016 at 12:02 PM

The Dow Jones Industrial Average (DJIA) is down triple digits -- and south of 17,000 -- at midday, still reeling on concerns over North Korea's hydrogen bomb. Stocks are also tracking energy sharply lower, as the largest increase in U.S. gas inventories in more than two decades has February crude oil down more than 4% at 11-year-lows.

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


160106mmc

Spirit Airlines Incorporated (NASDAQ:SAVE) is among stocks with unusual option volume today. In particular, calls are crossing the tape at  nine times their usual intraday pace -- and outnumbering puts 11-to-1. SAVE is up 2.7% at $42.60, as airlines rally amid sinking oil. Bullish betting in the option pits is nothing new for the stock, though. Its 50-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 7.42 outranks 98% of all readings from the last 12 months. 

Among the big winners on the Nasdaq today is TASER International, Inc. (NASDAQ:TASR), shaking off greater market headwinds to climb 4.1% to $17.72. The stock got an upgrade from J.P Morgan Securities this morning, helping the shares edge further from their annual low of $16.14, seen less than a month ago. Today's rally could have short sellers on the run, as short interest accounts for more than 21% of TASR's total available float.

160106_tasr

Fiat Chrysler Automobiles NV (NYSE:FCAU) is one of the bottom performers on the Big Board so far, falling 6.1% to trade at $8.52, due to a negative note at Goldman Sachs. The shares have fallen sharply since the spin-off of Ferrari NV (NYSE:RACE) was completed earlier in the week. 

The CBOE Volatility Index (VIX) is 1.15 points, or 5.95%, higher at 20.49.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.32, with puts outnumbering calls. SPY was last seen down 1.92 points, or 0.95%, at $199.43.


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.
UNH Stock Pops on Accelerated Payment Promise
Analysts are very bullish on UnitedHealth stock
Extra Space Storage Stock Wavers After Downgrade
Raymond James downgraded to "underperform" from "market perform"
The Top Lithium Play of 2020
Click to continue to advertiser's site.