S&P Closes In on Record High as Tech Gains

Tech is rallying after the sector struggled yesterday

Aug 21, 2018 at 12:02 PM
facebook twitter linkedin

The Dow Jones Industrial Average (DJI) is trading higher at midday, on pace for a fourth straight win. Investors are reacting to the latest round of corporate earnings, and President Donald Trump's Reuters interview, in which he discussed trade talks with China and rising interest rates. While the S&P 500 Index (SPX) is also gaining -- and quickly approaching record-high territory -- it's the Nasdaq Composite (IXIC) leading the way, thanks to broad gains out of tech stocks. 

Continue reading for more on today's market, including:

  • Our founder and CEO Bernie Schaeffer examines the key chart levels for this beaten-down European ETF.
  • 2 popular Apple put options.
  • Plus, Netflix call volume pops; a rallying healthcare stock; and the beauty stock getting beat down.

midday market stats august 21

One stock seeing unusual options activity today is Netflix, Inc. (NASDAQ:NFLX), as traders bet on a quick comeback following the FAANG stock's recent losing streak. Weekly call options account for the eight most active contracts today, and the 8/24 340-strike call is in the lead, followed by the 345- and 350-strike calls from the same series. Calls in the 8/31 series are also popular, namely the 350- and 355-strike calls. Data suggests new positions are being opened at all of these strikes. NFLX shares were last seen trading up 3.6% at $339.67.

nflx stock chart

One of the best stocks on the Nasdaq today is healthcare efficiency expert Premier Inc (NASDAQ:PINC), with Wall Street cheering the company's fiscal fourth-quarter earnings beat. PINC stock was last seen up 13.9% at $43.67, earlier hitting an all-time high of $45.31. The shares have been on an impressive uptrend since bottoming near $27 back in November.

Over on the New York Stock Exchange, Coty Inc (NYSE:COTY) is sinking following the cosmetics company's disappointing earnings release and the departure of Chief Financial Officer Patrice de Talhouet. COTY shares have shed 9.7% to trade at $11.20, putting them on pace for their lowest close ever. The equity has now lost almost half its value since its February highs.


Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners