Stocks are struggling across the board today, as tech sector weakness carries over to the rest of Wall Street. The Dow Jones Industrial Average (DJIA) was down triple digits at its session lows but has now moved into the black, while the S&P 500 Index (SPX) is firmly in the red. The Nasdaq Composite (IXIC) is off by 239 points at last check, poised to drop over 500 points in the last two days. Magnificent Seven stocks are all in the red midday, as investors rotate out of AI amid broader valuation concerns.  

Estee Lauder Companies Inc (NYSE: EL) is seeing a surge in put option activity today. At last check, 16,000 puts have changed hands, volume that's 6 times the average intraday amount and more than the 13,000 calls exchanged. The weekly 8/22 85-strike put is the most popular, while new positions are being bought to open at the 80-strike in the same weekly series (expiring Friday). The stock is down 4.7% to trade at $85.64, after luxury retailer's 2026 fiscal guidance fell short of estimates, largely due to tariff-related headwinds. Year to date, EL is still 14% higher, with today's pullback captured by the 320-day moving average.

Analog Devices, Inc. (Nasdaq: ADI) is one of the best stocks on the Nasdaq today, brushing off the tech sector rotation, last seen up 1.7% to trade at $234.34. The semiconductor supplier reported fiscal third-quarter earnings that topped estimates, while fourth-quarter guidance also exceeded expectations. ADI earlier traded as high as $241.78, and is now 11% higher year to date.

Tech exchange-traded fund (ETF) Invesco QQQ Trust Series 1 (QQQ) is a poor performer today, down 1.5% to trade at $560.51. The ETF is heading toward a fifth-straight loss, a sharp pullback from its Aug. 13 record high of $583.31. However, there is support in place at the 40-day moving average and QQQ remains 9% higher for 2025. 

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