Dow Jones Industrial Average Up With VIX; S&P, Nasdaq Set to Extend Losing Streaks

3 Cybersecurity Stocks to Watch Ahead of Earnings

Nov 3, 2016 at 12:21 PM
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The Dow Jones Industrial Average (DJIA) is sitting higher at midday, while the S&P 500 Index (SPX) and the Nasdaq Composite (COMP) are on track to extend their daily losing streaks to eight – thanks to big post-earnings losses for tech stock Facebook Inc (NASDAQ:FB). Plus, as election anxiety continues to swirl, the CBOE Volatility Index (VIX) is on pace for an eighth straight day of gains -- matching the record for the market's "fear gauge." Ahead of tomorrow's jobs report, stocks are reacting to the latest jobless claims number, as well as a third straight monthly rise in factory orders for September and a lower-than-expected reading on last month's Institute for Supply Management's (ISM) services index. Additionally, oil prices have turned lower, with December-dated crude futures down 0.8% at $44.99 per barrel.

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MMC 1103 2

Among the stocks with unusual options volume at midday is insurance stock Citizens, Inc. (NYSE:CIA). The stock is currently trading 3.2% higher at $7.75, and call options are trading at 1,349 times their normal intraday clip, with over 35,000 calls on the tape -- an annual peak -- compared to just 326 puts. Nearly all of these calls have centered at the December 7.50 call and November 10 calls, where one speculator may be rolling her position down and out.

Cloud stock Actua Corp (NASDAQ:ACTA) is among the top performers on the Nasdaq today, currently trading up 14% at $13.22.  Earlier, the company reported earnings that beat expectations and announced an $80 million modified "Dutch auction." Ushered higher by its 50-day moving average since mid-July, ACTA is currently up roughly 15% so far this year.

ACTA 1103

Drug distributor Diplomat Pharmacy Inc (NYSE:DPLO) is among the worst performers on the New York Stock Exchange (NYSE) today, currently trading down 39.1% at $13.63, after the company's earnings miss was met with a round of bearish analyst notes. DPLO now sits down 60% year-to-date, and notched an all-time low of $13.10 earlier.

The CBOE Volatility Index (VIX) is up 0.4 point, or 2%, at $19.70.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.06, with puts nearly doubling calls.At last check, SPY was down 0.1%, or 0.1 point, at $209.61.

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