Dow Jones Industrial Average Set to Snap Weekly Win Streak

3 Under-the-Radar Gems

Mar 24, 2016 at 12:13 PM
facebook twitter linkedin

The Dow Jones Industrial Average (DJIA) briefly slipped into negative year-to-date territory earlier, and is on track to snap its five-week winning streak, with bank stocks -- including Goldman Sachs Group Inc (NYSE:GS) -- trading in the red. A rising U.S. dollar is having a ripple effect across the market, with stocks, oil prices, and gold futures all lower at midday.

Specifically, the dollar is gaining ground against a basket of other major currencies for a fifth straight session, as support for a near-term interest-rate hike gains traction among regional Fed officials. Elsewhere, May-dated crude futures are down 2.3% at $38.89 per barrel, while April-dated gold futures are off 0.2% at $1,221.30 per ounce.

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


Among today's stocks with unusual put volume is Tesla Motors Inc (NASDAQ:TSLA), with the contracts crossing at two times the average intraday pace. Shares of the electric car concern have swung 1.2% higher to $225.41 -- after an initial analyst-induced turn lower -- and eleventh-hour speculators are honing in on TSLA's weekly 3/24 series. Most active is the 215-strike put, which appears to be seeing a mix of buy- and sell-to-open activity.

Pandora Media Inc (NYSE:P) is one of the biggest gainers on the New York Stock Exchange (NYSE) today, up 8.2% at $10.69. While shares of the streaming service are rallying on M&A buzz, the surge is running out of steam near P's 80-day moving average -- a trendline that has been working against the stock since a late-October bear gap.


Sunedison Inc (NYSE:SUNE) is one of the biggest decliners on the NYSE, down 5.9% at $1.20 -- and fresh off a 14-year low of $1.15. It's been a rough road for the alternative energy stock, and today's losses come courtesy of recent reports that the company is attempting to secure debtor-in-possession financing.

The CBOE Volatility Index (VIX) is up 0.5 point, or 3.4%, at 15.45.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.13, with puts more than doubling calls. SPY is down 0.5% at $202.28.

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners