Discover Financial Stock Gets Slammed by Instinet

DFS still remains 41% higher year-to-date

Discover Bank parent Discover Financial Services (NYSE:DFS) is down 1.3% to trade at $82.76 this morning. Weighing on the equity is a fresh downgrade to "neutral" from "buy" and price-target cut to $89 from $96 out of Instinet. The analyst in coverage is pessimistic about the company's upcoming earnings growth. DFS is now pulling back to recent support of its 80-day moving average, but remains 41% higher year-to-date.

Digging a little deeper, near-term open interest looks unusually put-heavy on Discover Financial stock. This is according to the Schaeffer's put/call open interest ratio (SOIR) of 1.28, which ranks just 1 percentage point from an annual high.

Lastly, DFS' Schaeffer's Volatility Scorecard (SVS) comes in at 95 out of 100. In other words, this means the security has consistently made bigger moves on the charts than its options premiums have priced in over the past 12 months.

Immediate trigger for crash was new Fed Chairman pick

Gold stocks slump on metal price decline

Is the gold market starting to turn 'irrationally exuberant'?

Gold stocks explode up as equity markets languish

Gold stocks outpace flat large caps