Stocks Slump as "Fear Gauge" Roars to Life

The 10-Year Treasury yield keeps climbing

Managing Editor
Apr 6, 2022 at 11:52 AM
facebook twitter linkedin

The Dow Jones Industrial Average (DJI) was last seen around 290 points lower midday, poised for a second-straight day of steep losses. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also deep in the red this afternoon, with the latter poised for its worst day since March 7. The 10-Year treasury yield continues to spike, last seen at 2.65% and near three-year highs. Amidst renewed fears of an aggressive Fed policy this year, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) is headed for its biggest daily jump since Feb. 10. 

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

  • An encouraging production update can't save this EV stock.
  • One cannabis stock brushing off the broad-market selloff.
  • Plus, put traders blast crumbling real estate stock; Kroger stock standing tall; and SHOP in NYSE cellar.

mmc stats april 6

Opendoor Technologies Inc (NASDAQ:OPEN) is seeing an uptick in bearish trading today, as the real estate services stock nurses a 10% deficit, last seen at $7.51. At last check, over 20,000 puts have changed hands, volume that's nine times the average intraday amount. Positions are being bought to open at the most popular contract -- the weekly 4/8 7.50-strike put. OPEN is down 48% in 2022. 

Kroger Co (NYSE:KR) stock is also bucking the broad market selloff, last seen up 2.4% to trade at $59.08. The Cincinnati-based grocery giant announced this morning a 'joint e-commerce experience' with Bed Bath & Beyond. Kroger stock is up 30% year-to-date, and scored a record high of $62.58 on March 22. 

Among the worst of the worst on the New York Stock Exchange (NYSE) today -- and there's a lot -- is Shopify Inc (NASDAQ:SHOP) was last seen down 8.3% at $644.91. Although there's no specific catalyst, the e-commerce stock now sports a 53.2% deficit year-to-date, with a late-March rally contained by SHOP's descending 50-day moving average.

MMC Stock Chart SHOP


Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners