Amazon is eyeing its worst session in months
Stocks are trading in the red at midday, due to tech headwinds and concerns about trade with China. Notably, a slide from Apple (AAPL) is dragging the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) lower. Meanwhile, fellow FAANG stock Amazon (AMZN) is pacing for its worst session in months, and chip stocks are dropping on tariff fears and negative analyst attention, pushing the S&P 500 Index (SPX) to a notable loss of its own.
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Insurance agency Allstate Corp (NYSE:ALL) is sporting unusual options volume today, though the catalyst remains unclear. Roughly 14,000 puts -- compared to a mere 164 calls -- have crossed the tape so far, 18 times the average intraday pace. Most of the volume is attributable to a pair of October 90 and 95 puts, with symmetrical blocks of 2,701 contracts trading this morning. International Securities Exchange (ISE) data indicates the sold 90-strike puts were rolled up to the 95 strike, with the speculator betting on short-term support at the latter. Allstate stock is up 0.1% at $100.10, at last check, continuing to climb from its Sept. 11 lows, where its bounced off the $96 level and 120-day trendline. ALL is just below breakeven year-to-date.
Near the top of the Nasdaq today is MYnd Analytics Inc (NASDAQ:MYND), after the Food and Drug Administration (FDA) granted the company's PEER 4.0 a "breakthrough device" designation. MYND stock was last seen 24.3% higher at $2.23, but upside momentum has stalled around the penny stock's 200-day moving average.
Outperforming on the Nasdaq today is auto stock
Shiloh Industries, Inc. (NASDAQ:SHLO), after BMO hiked its price target to $13.50 from $12. SHLO has gapped 9.7% higher to $12.06 -- earlier touching a fresh annual high of $12.19 -- in response, extending its year-to-date lead to 47%.