Oil's Rise Results in Risk-Off Trading

The Dow's winning streak is in trouble

Sep 16, 2019 at 12:04 PM
facebook twitter linkedin


The Dow Jones Industrial Average (DJI) is lower today, as investors try to gauge the impact of a sharp spike in oil prices on stocks. October crude futures were last seen adding to their recent strength, up 11.6% at $61.20 per barrel in response to the Saudi Arabia attacks. So while energy stocks are making huge moves higher, the rest of the market is struggling, with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) joining the Dow in negative territory -- threatening the blue-chip index's eight-day win streak.

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

midday market stats sept 16

One name seeing notable options trading is DISH Network Corp (NASDAQ:DISH). The stock is snapping back after three straight down days, last seen trading 2.3% higher at $35.98, and more than 26,000 calls have crossed already -- compared to a daily average volume of just 1,402. Most of the action has been driven by the weekly 9/27 36-strike call, where more than 21,100 contracts have traded.

dish stock sept 16

Alder Biopharmaceuticals Inc (NASDAQ:ALDR) is one of the best stocks on the Street today thanks to a $2 billion buyout offer from Denmark-based Lundbeck. The shares were last seen up 83.2% at $18.43, running to fresh 52-week highs in the process. This comes just days after ALDR stock touched an all-time low of $8.39.

On the flip side, Aimmune Therapeutics Inc (NASDAQ:AIMT) is volatile again, last seen down 6.7% at $23.09, after earlier trading sharply higher. The up-and-down price action comes after a Food and Administration (FDA) panel recommended approving the company's peanut allergy drug. AIMT shares are still down 17.5% year-over-year.
 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial
 


 


 
Special Offers from Schaeffer's Trading Partners