The DJIA dropped more than 100 points this morning before clawing back into positive territory
The Dow Jones Industrial Average (DJIA) took a dive out of the gate this morning, shedding more than 100 points at its intraday low, but clawed its way back into positive territory, even as traders continue to digest a 2.8% post-earnings slide for Apple Inc. (NASDAQ:AAPL) -- the leading laggard on the blue-chip index. Boosting stocks is a recovery in oil prices, with December-dated crude futures briefly topping $50 per barrel after the Energy Information Administration (EIA) reported a surprise drop in domestic stockpiles -- marking the sixth week out of seven that U.S. inventories have fallen. Analysts were expecting inventories to rise last week. Elsewhere, new home sales rose 3.1% in September, and are 29.8% higher than a year ago, while a steeper-than-expected drop in the U.S. trade deficit has lifted expectations for third-quarter gross domestic product (GDP) growth.
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Dow component Boeing Co (NYSE:BA) is among the stocks with unusual options volume at midday. After initially turning lower, the shares are up 2% at $141.76 -- a year-to-date high -- following positive earnings and an upwardly revised full-year forecast. Meanwhile, BA calls and puts are both changing hands at three times the average intraday rate -- and call open interest is already seated at a 12-month high. Most active so far is the weekly 10/28 141-strike call, where data from the International Securities Exchange (ISE) confirms at least a few new positions have been bought to open. Buyers of the call are betting on the stock extending its rally through the close this Friday, when the weekly option expires.
Among the top performers on the Nasdaq today is cloud concern Akamai Technologies, Inc. (NASDAQ:AKAM), up 15% at $67.91 following a stronger-than-expected earnings report. The upbeat results led to a flood of optimistic analyst attention, but today's price action could have option bears kicking rocks.
Burrito chain Chipotle Mexican Grill, Inc. (NYSE:CMG) is one of the worst performers on the New York Stock Exchange at midday, after disappointing earnings led to a round of bearish brokerage notes. The shares are off 7.6% at $374.93, widening their year-over-year loss to nearly 43%, and tapping a fresh three-year low of $371.76 earlier in the session.

The CBOE Volatility Index (VIX) is up 0.4 point, or 3.2%, at 13.89.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.25, with puts outpacing calls. SPY was last seen up 0.2 point, or 0.1%, at $214.38.
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