Stocks Head For Daily Losses, Weekly Wins

Stocks are lower this afternoon but still headed for modest weekly wins. Today's losses come amid renewed concerns regarding the health of the banking sector. Volatility seems to be cooling off, however, as the Cboe Volatility Index (VIX) is on track to snap a two-week win streak. In other news, the S&P Global U.S. manufacturing sector index rose to 49.3 from 47.3 -- a five-month high. 

Midday Market Stats March 242023

Sunrun Inc (Nasdaq: RUNis getting blitzed by options traders today, with over 24,000 puts changing hands, volume that's three times the average intraday volume. The most activity is taking place at the weekly 4/6 16-strike put, where new positions are being opened. At last check, RUN was down 1.2% at $17.42.

Silvergate Capital Corp (NYSE: SIis up 49.6% to trade at $1.69 at last check, as the crypto-adjacent stock shakes off Binance's software glitch. Still, today's pop is doing little help the embattled stock, which sports a nearly 100% year-over-year deficit thanks, with recent pressure emerging at the 10-day moving average.

SI March 242023

On the other end of the spectrum is Oxford Industries Inc (NYSE: OXM), last seen down 14.8% to trade at $99.60. The apparel brands owner yesterday reported fourth-quarter earnings and revenue beats, but issued a weaker-than-expected quarterly guidance. 

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