Stocks are selling off once more amid the latest spike in oil prices. April-dated crude was last seen up 6.2%, after reports Iran hit an oil tanker with a missile. The Dow Jones Industrial Average (DJI) is down 763 points at last look, while the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are also firmly in the red. On the flip side, the Cboe Volatility Index (VIX) is heading for its second-highest close of the year.
Okta Inc is seeing a surge in options activity today, with 32,000 contracts trading hands already, volume that's six times the average intraday amount. The weekly 3/6 80-strike call is the most popular, while the June 95 call is also seeing buy-to-open activity. OKTA is 7.2% higher to trade at $76.88, after the IT company's fourth-quarter earnings and revenue topped estimates, prompting two price-target hikes and 11 cuts. The stock is still down 10.7% year to date and fell to a two-year low of $68.77 on Feb. 23.
Expedia Group Inc (EXPE) stock is dodging the selloff, last seen up 10.7% to trade at $245, even as tourism stocks face extra scrutiny amid geopolitical tensions. Instead, a deal with PredictHQ to increase sports-tourism has EXPE on track for its best single-session gain since Nov. 7. The shares are still 15% lower in 2026, though.
Delta Air Lines Inc (DAL) is one of the worst stocks on the New York Stock Exchange (NYSE) today, last seen down 6.5% to trade at $59.63. The entire airline sector is grounded as oil prices and Middle East escalations weigh, while Delta also changes its C-suite, replacing its President, COO, and CFO. Delta stock has taken a 22% haircut off its Feb. 11 record high of $76.39, but support is in place at its 200-day moving average.
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