Stocks Choppy As Retail Sector Remains In Focus

Stocks are sluggish midday, with the Nasdaq Composite (IXIC) down triple digits at last check. After trading on both sides of the aisle this morning, the Dow Jones Industrial Average (DJI) was last seen higher but is struggling for direction. The S&P 500 is moving marginally lower, weighed down by Target's (TGT) negative impact on the retail sector. 

Investors are still unpacking this morning's import price index and retail sales data. There's also the National Association of Home Builders’ (NAHB) monthly confidence index for November, which fell 5 points to a reading of 33 -- its 11th-straight monthly drop and lowest level since June of 2012. 

MMC Nov16 New

Options bears are blasting Kohl's Corporation (NYSE: KSS) today, as the retail stock drops alongside its peers amid its own dismal current-quarter sales forecast -- down 7.5% at $29.62 at last glance. So far, 37,000 puts have been exchanged -- 25 times the intraday average -- in comparison to 2,209 calls. The December 25 put is the most popular, with new positions being opened there. Year-over-year, KSS is down 49.1%. 

KSS Nov16

InMed Pharmaceuticals Inc (Nasdaq: INM) is at the top of the Nasdaq today, last seen up 66.5% at $4.64 after the biotech company started a program that will study the affects of cannabinoids on nerve diseases. INM dipped into penny stock territory just last month and is currently down 86.4% year-to-date. 

Meanwhile, Carvana Co (NYSE: CVNAis crashing, down 13.2% at $8.61 at last glance. Wedbush today cut its price target to $9 from $12, just a day after Oppenheimer downgraded the stock "perform" from "outperform." Plus, Advance Auto Parts' (AAP) post-earnings plummet could be weighing on the shares as well. Year-to-date, CVNA is down 36.8%. 


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