Dow Jones Industrial Average Winning Streak in Jeopardy

2 Stocks Cashing In on the Pokemon Go Craze

Jul 19, 2016 at 12:17 PM
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The Dow Jones Industrial Average (DJIA) dropped out of the gate, as traders eyed choppy oil prices and overseas market losses. At last check, August-dated crude futures are down 0.6% at $44.94 per barrel. In addition, a disappointing earnings turn from Netflix, Inc. (NASDAQ:NFLX) is weighing on tech stocks, and the International Monetary Fund's (IMF) downwardly revised global growth forecast is adding fuel to the bears' fire. However, while the Dow is in jeopardy of snapping its seven-session winning streak, a round of well-received earnings from blue chip Johnson & Johnson (NYSE:JNJ) is helping to keep the index's losses in check. 

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Midday Market Chart 071916

Among the stocks with unusual option volume is drugmaker Merck & Co., Inc. (NYSE:MRK), with puts crossing at 19 times their usual intraday pace. It looks like one trader may be rolling long puts to a higher strike in the August series, perhaps to protect his shares ahead of MRK's earnings release later this month. The stock was last seen down 0.4% at $58.78.

Biotech stock Cerulean Pharma Inc (NASDAQ:CERU) is among the best performers on the Nasdaq today. The shares are up 15.7% at $2.64, after the company's ovarian cancer treatment, CRLX101, received "fast track" designation from the Food and Drug Administration (FDA). 

Streaming service Netflix, Inc. (NASDAQ:NFLX) is among the worst performers on the Nasdaq today, down 13.7% at $85.26, after brokerage backlash followed disappointing subscriber figures. NFLX is down 25.5% year-to-date, with rally attempts since April capped by the stock's 160-day moving average.

NFLX 160 day MA 071916

The CBOE Volatility Index (VIX) is up 1%, or 0.1 point, at 12.56.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.15, with puts leading calls. SPY is down 0.2%, or 0.4 point, at $216.05.

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