Stocks Volatile As "Fear Gauge" Pops
Stocks are struggling for direction today, with the Dow Jones Industrial Average (DJI) last seen modestly higher despite trading deep in the red earlier this morning. The S&P 500 Index (SPX) is in the black as well, near flat line, while the Nasdaq Composite (IXIC) inches lower despite gains from Big Tech favorites. Bond yields are also lower once again today, with the 10-Year Treasury yield drifting toward 1.3%. Elsewhere, the Cboe Volatility Index (VIX) is building on yesterday's climb, set to close at its highest level since June 22.
One stock seeing an unusual amount of call activity today is Trade Desk Inc (NASDAQ: TTD), up 3.4% at $79.18 at last check, after the software company launched Solimar, a new trading platform to help in digital ad campaign optimization. So far, 70,000 calls have crossed the tape -- volume that's is five times the intraday average -- compared to 12,000 puts. The most popular contract is the July 85 call, followed by the weekly 7/9 80-strike call, with new positions are being opened at both. TTD is on track to notch its first win in five sessions and boasts a 79% year-over-year lead.
At the top of the Nasdaq, today is Data Storage Corp (Nasdaq: DTST), last seen up 40.7% to trade at $10.26. DTST is pacing for its best day since March, as retail investors from social media sites like Reddit and StockTwits bombard the technology solutions company. DTST is pacing for its best single-day percentage gain in the last two years and has added 93.3% year-to-date.
Near the bottom of the New York Stock Exchange (NYSE) today is frequent meme stock AMC Entertainment Holdings Inc (NYSE: AMC), last seen down 10.3% to trade at $44.92. After scoring a record high of $72.62 on June 2, the movie theater stock has 18.5% in the last 30 days. With today's losses, AMC is heading for its lowest close in nearly a month.
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