The DJIA has clawed its way higher at midday
The Dow Jones Industrial Average (DJIA) is extending its newfound foothold atop 17,000 today, erasing early losses amid tailwinds from Dow component DuPont (NYSE:DD). The stock is reacting to news that Germany-based BASF could put in a bid for the firm. Elsewhere, ahead of afternoon speeches from Federal Reserve Vice Chair Stanley Fischer and Fed Governor Lael Brainard, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) are attempting to extend their winning streaks, as energy stocks rally with oil prices. April-dated crude futures were last seen trading 4.2% higher at $37.44 per barrel.
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Among stocks with unusual put volume is
Wynn Resorts, Limited (NASDAQ:WYNN), with the contracts crossing at two times the average intraday rate. Amid some
upbeat analyst attention, shares of the casino concern have overcome an initial drop, up 0.2% at $85.63. However, option traders are betting on a slide. Specifically, buy-to-open activity has been detected at WYNN's March 81 put.
Chesapeake Energy Corporation (NYSE:CHK) is one of the biggest advancers on the S&P 500 Index today, up 7.1% at $5.44. The stock has more than doubled this month amid last week's scandalous fundamental developments -- and is now on pace to notch its first daily close north of its 120-day moving average since August 2014.
Netflix, Inc. (NASDAQ:NFLX) is one of the leading laggards on the S&P today, down 3.9% at $97.65. This negative price action is relatively rare for the shares -- which, coming off of last week's big move, are up nearly 22% from their Feb. 8 year-to-date low of $79.95.
The
CBOE Volatility Index (VIX) is up 0.2 point, or 1%, at 17.03.
Today's put/call volume ratio on the
SPDR S&P 500 ETF Trust (SPY) is 1.39, with puts having an edge over calls. SPY is 0.1% higher at $200.63.