Dow Jones Industrial Average Drops on Crude Supply Increase

Where's the Volatility Panic?

by Kirra Fedyszyn

Published on Jan 13, 2016 at 12:14 PM

The Dow Jones Industrial Average (DJIA) has once again failed to hold on to early gains, sitting in the red at midday. After digesting upbeat trade data out of China, traders are watching oil, which has lost some steam after the Energy Information Administration (EIA) reported weekly increases in gasoline and crude supplies. February crude was last seen marginally higher, rebounding from a 12-year low beneath $30 a barrel on Tuesday. 

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

  • Where's the panic about volatility? Schaeffer's contributor Adam Warner weighs in.
  • Why Goldman Sachs expects this blue chip to stay range-bound for a bit.
  • Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

160113mmc


FireEye Inc (NASDAQ:FEYE) is among stocks with unusual option volume today, as calls are crossing the tape at three times the usual intraday rate, outnumbering puts nearly 8-to-1. In fact, calls account for the 16 most active FEYE options so far today, with a fair amount of buy-to-open activity seen. The stock was last seen 4.3% higher at $17.58, enjoying a halo lift from Cyberark Software Ltd (NASDAQ:CYBR), after touching an all-time low of $16.39 Monday. 

Speaking of CYBR, the stock is among the leaders on the Nasdaq today, up 21.5% at $45.96, thanks to rumors that the company is in talks to be acquired by rival Check Point Software Technologies Ltd. (NASDAQ:CHKP). CYBR shed more than half of its value after hitting an all-time high of $76.35 last June, and is testing resistance at its descending 80-day moving average.

160113_cybr

Among the worst performers on the Nasdaq, meanwhile, is Express Scripts Holding Company (NASDAQ:ESRX), last seen down 6.1% at $80.38, amid news of a re-pricing provision with Anthem Inc (NYSE:ANTM). If the shares can't recover before the close, today will mark the stock's largest single-day fall in years.

The CBOE Volatility Index (VIX) is up 0.2 points, or 0.9%, at 22.67.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.53, with puts outnumbering calls. SPY was last seen 1 point, or 0.5%, lower at $192.68.


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