U.S. Stocks Extend Losses Midday

Boeing stock is weighing heavy on the Dow

Deputy Editor
Mar 27, 2020 at 12:03 PM
facebook twitter linkedin

Despite yesterday's third-straight gain, the Dow Jones Industrial Average (DJI) is continuing to drop midday as attention shifts back to coronavirus now that the U.S. has the most confirmed cases worldwide. The blue-chip index is down over 740 points, most hindered by Boeing (BA), which was last seen down nearly 10%. Not to be left behind, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also deep in the red.

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

  • WW sinks lower despite analyst upgrade.  
  • The automobile manufacturer dipping lower today. 
  • Plus, CARG's option volume surge; APT rises amid coronavirus fears; and the cruiseline sliding alongside its sector.

midday market stats mar 27

One stock seeing an options volume surge today is CarGurus Inc (NASDAQ:CARG), last seen down 9.5% to trade at $18.57. The online automotive marketplace has seen 10,000 calls and 12,000 puts cross the tape so far -- 127 times the usual daily volume. Most popular by far are the August 30 call and the August 15 put, with positions being opened at both. This increase of attention comes after price-target cuts from both Citigroup and RBC to $28 and $25, respectively. After bouncing off a record low of $14.25 on March 17, CARG stock met its resistance at the 20-day moving average and round $20 mark. 

MMC chart mar 27

One stock moving up on the New York Stock Exchange (NYSE) today is Alpha Pro Tech Ltd (NYSE:APT), up 16.9% to trade at $10.95 at last check. The company's air-filter face masks are undoubtedly gaining attention as the threat of coronavirus looms. However, the stock has had trouble moving higher since hitting a record high of $41.09 in mid-February, and has just met resistance at the 30-day moving average. 

Meanwhile, towards the bottom of the NYSE today, closely followed by other big names in its sector, is Norwegian Cruise Line Holdings Ltd (NYSE: NCLH), down 18.4% to trade at $12.82. This dip most likely comes from news that the cruise comapnies are being cut out of the U.S.' coronavirus stimulus bailout. NCLH has been struggling in 2020 regardless, and now sports a 78% year-to-date deficit.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners