Oil prices are rising again
Stocks are generally searching for direction at midday, as investors consider a muddied outlook for U.S.-China trade talks. The Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are all trading in the red at last check, despite another positive day for the energy sector. January crude futures are trading up 0.3%, at $58.63 per barrel, as the OPEC meeting gets underway.
- 3 retail stocks rising after earnings.
- Why an analyst is saying to buy Nike stock.
- Plus, Micron puts pick up; another retailer rallying higher; and drug stock crashes to new low.
One name seeing unusual options trading is Micron Technology, Inc. (NASDAQ:MU). Puts are crossing at an accelerated rate, with the April 40 put most popular overall. Meanwhile, new positions are possibly being bought to open at the weekly 12/13 46-strike put. The shares of MU were last see 0.2% higher at $46.39, with the company tentatively scheduled to report earnings on Dec. 18.
One of the best stocks today is Duluth Holdings Inc (NASDAQ:DLTH), with the apparel name rising 30.9% to $10.22, thanks to a well-received earnings release. The $10 level had been acting as a strong ceiling since mid-September, as DLTH looks for its first close in double-digit territory since that time, while also clearing recent congestion near the 80-day moving average.
One of the worst stocks on the Street is
SAGE Therapeutics Inc (NASDAQ:SAGE), down 56.5% at $64.85, already hitting a two-year low of $56.50, after the company's depression drug failed a late-stage study. Options traders had been bearish in recent days, with the 10-day put/call volume ratio of 2.63 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranking in the 87th annual percentile.