The Dow Jones Industrial Average (DJI) is up 257 points this afternoon, on pace to completely erase Monday's selloff as investors sift through a slew of blue-chip earnings reports. The S&P 500 Index (SPX) and tech-heavy Nasdaq Composite (IXIC) are also sporting solid gains, with the latter brushing off a worse-than-expected quarterly report from Netflix (NFLX).

Reopening plays are also set to extend their rebound today, despite falling earlier in the week due to reemerging Covid-19 delta variant fears. However, a number of strategists are now predicting a steep pullback, as traders continue to weigh inflation and virus concerns.

One stock getting blasted in the options pits today is cloud content management platform Box Inc (NYSE: BOX), down 3.6% to trade at $22.89 at last check. Today's dip came after RBC initiated coverage of the equity with an "underperform" rating, as well as a $19 price target, which is a 20% discount to last night's close. The analyst in question noted slowing growth, uneven execution, and increased competition. So far, 7,140 puts have already crossed the tape, which is five times the intraday average. Most popular is the September 23 put, followed by the 25 put in the same series. The equity has been tumbling down from its July 2, three-year high of $27.40 in recent weeks, though the $22.50 level seems to have emerged as a floor. In the past nine months, BOX has added 38.8%.

Near the top of the Nasdaq, today is Chembio Diagnostics Inc (Nasdaq: CEMI), last seen up 182% at $5.81, after the company received a $28.3 million order for its Covid-19 rapid antigen detection tests from Brazilian drugmaker Bio-Manguinhos, to be delivered later this year. The security is currently trading at its highest level since February, blowing past resistance at the 40-day moving average, which had been guiding shares lower since March. Month-to-date, Chembio Diagnostics stock now boasts a 96.2% lead.

Meanwhile, Staffing 360 Solutions Inc (Nasdaq: STAF) is at the bottom of the Nasdaq, down 22.4% at $2.97 this afternoon, after the company said it sold roughly 2.2 million shares to several institutional investors at $3.45 for share, which is around a 10% discount to its last close. The $7.58 million it raised will be used to partially redeem debt and preferred stock, as well as for general working capital purposes. The stock has been on a downward trend since surging to a two-year high of $20.04, Oct. 15. Plus, the $5 mark has be kept a tight lid on the shares since April, despite a pop above that level earlier this month. Over the last nine months, STAF has shed 61.6%.