Dow Down Over 600 Points Amid Oil Volatility

May-dated oil futures have crossed back over into positive territory

Deputy Editor
Apr 21, 2020 at 12:10 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJI) is once again stuck deep in the red, down over 700 points at last check as oil prices cripple Wall Street. While May-dated crude futures --set to expire at the close today -- crossed back into positive territory at midday, panic around black gold remains amid plunging demand and soaring storage. Additionally, the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are joining the Dow in the red, with all three indexes down by 2% or more.

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

  • Coca-Cola stock is slipping despite positive earnings.
  • LabCorp stock is buzzing after an FDA approval of its COVID-19 test kit.
  • Plus, Beyond Meat calls are all the rage; Scorpio Tankers capitalizes off oil debacle; and AMN Healthcare falls back to earth.

Midday Market Stats April 21

One stock seeing notable options trading activity today is Beyond Meat Inc (NASDAQ:BYND). The producer of plant-based meat substitutes was last seen trading up 13.7% at $89.31. At last check, nearly 66,000 BYND calls have changed hands, eight times the average intraday amount and more than four times the number of puts traded. The weekly 4/24 100-and 90-strike calls are the most popular, with just over 16,000 calls being ordered up between the two and new positions being opened at both.

One stock bucking the broad market sell-off is Scorpio Tankers Inc (NYSE:STNG), up 6.5% to trade at $25.00 at last check and on track for its sixth straight win. This rise comes as oil traders seek out storage amid an overwhelming surplus of black gold. STNG is a little over a month removed from an all-time-low of $12.35, but today's rally has run out of steam below its 100-day moving average.

STNG Chart April 21

Meanwhile, one stock that's lost a lot of ground is AMN Healthcare Services, Inc (NYSE:AMN), last seen down 10.2% to trade at $49.50 at last check. The healthcare staffing company is still dangerously close to its May 31 annual low of $47.55, and is down almost 20% in 2020.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI