Oil, Pre-Fed Jitters Keep Dow Jones Industrial Average In Check

The Dow Jones Industrial Average (DJIA) is struggling to build on last Friday's breakout, last seen slightly lower as oil prices sink. At last check, April-dated crude futures were down 4.2% at $36.88 per barrel, after Iran said it could be a while before it freezes oil output. Stocks are also having a tough time finding traction as rate-hike jitters mount ahead of the Federal Open Market Committee's (FOMC) two-day policy meeting, which commences tomorrow.

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• Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

Among today's stocks with unusual options volume is Marriott International Inc (NASDAQ:MAR), with the contracts crossing at five times the expected intraday rate. The hospitality stock is currently up 2.9% at $70.88 as M&A buzz swirls around MAR's takeover target. Drilling deeper, it appears one option bull is rolling her position at the March 67.50 call up and out to the April 70 strike.

One of the top performers on the New York Stock Exchange (NYSE) is Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT), following an unsolicited buyout offer. At last check, the hotel stock is up 6.7% at $75.14.

One of the Nasdaq's leading laggards today is Clean Energy Fuels Corp (NASDAQ:CLNE), down 6.8% at $3.02. Weighing on shares of the natural gas firm is a bearish brokerage note from Jefferies.

The CBOE Volatility Index (VIX) is up nearly 0.7 point, or 4%, at 17.16.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.11, with puts more than doubling calls. At last check, SPY is off 0.3% at $202.08.