Stocks are lower this afternoon, though all three benchmarks are pacing for weekly and monthly wins. The Dow Jones Industrial Average (DJI) has all but erased yesterday's gains, down 85 points at last check, and the Nasdaq Composite (IXIC) is off by triple digits thanks to a substantial post-earnings dip from Amazon.com (AMZN). Meanwhile, the S&P 500 Index (SPX) is swimming in red ink as well, though its pacing for its sixth consecutive monthly win. Elsewhere, the Cboe Volatility Index (VIX), Wall Street's "fear gauge," is set to snap a five-month losing streak and is now up 16% in July.

China stock Xpeng Inc (NYSE: XPEV) is seeing a notable amount of call activity today, though the catalyst for the action is unclear. XPEV was last seen 7.9% higher to trade at $41.10 and so far today, 29,000 calls have crossed the tape -- double the amount that's typically seen at this point -- alongside 8,936 puts. The most popular contract by far is the weekly 7/30 40-strike call, followed by the 41-strike call from the same series, with new positions being opened at both. The security is looking to lock in its third consecutive daily win. XPEV's100-day moving average has stepped up as support recently, as the stock drifts below its year-to-date breakeven level.

The best performing stock on the New York Stock Exchange (NYSE) by a large margin today is Capri Holdings Ltd (NYSE: CPRI). The security was last seen up 15.2% to trade at $57.68 after the Michael Kors parent company provided strong guidance on the heels of a blowout earnings report. On the charts, CPRI now boasts a 270% year-over-year lead.

Meanwhile, Pinterest Inc (NYSE: PINS) is underperforming today, and one of the worst stocks on the NYSE. Pinterest stock was last seen down 16.9% at $59.71 after the tech company's second-quarter earnings report showed another miss on user growth. Today's bear gap has PINS nearing its May, annual lows and sporting a 9.1% year-to-date defect.