Dow Sits Near Breakeven in Tepid Trading
The VIX is moving higher today
The Dow Jones Industrial Average (DJI) is modestly lower today, as traders take a wait-and-see approach ahead of this week's Fed meeting. Headlines around a U.S.-China trade deal are also in focus, with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) last seen lingering near breakeven as well. Despite the tepid price action, a sharp move higher in the Cboe Volatility Index (VIX) could suggest market volatility is picking up.
Why Cowen's impressed with this retailer. Inside the surprising short interest data on Activision Blizzard. Plus, weeklies pop on cybersecurity stock; Virgin Galactic's bull note; and a healthcare stock sinking on a C-suite shake-up.
One name seeing unusual options trading is CrowdStrike Holdings Inc (NASDAQ:CRWD), as the shares eye a fourth straight loss, down 2.3% at $49.75. The weak price action comes days after the post-IPO lock-up period ended. Traders may be closing positions at the weekly 12/13 50-strike put, while on the call side new positions are opening at the weekly 12/13 50 strike. Overall options volume on the cybersecurity specialist is already about to pass the daily average.
One of the best stocks today is Virgin Galactic Holdings Inc (NYSE:SPCE), as the shares of Richard Branson's space travel company rise 12.9% to $8.20. The price action comes after Morgan Stanley began coverage with an "overweight" designation and $22 price target, saying safety and partnerships are the keys to the company's success, and that even one successful flight this year could be a catalyst for the stock.
One of the worst stocks today is Tivity Health Inc (NASDAQ:TVTY), down 11% at $20.07, after the company said its relationship with President and COO Dawn Zier ended on Dec. 4. The shares are pacing to close below the 20-day moving average for the first time since October.
