After the open… Monday morning finds the stock market in chaos. Chaos is the market's usual state, of course, and it is a healthy one. That it seems less so when stocks fall inexplicably than when they rise inexplicably is due entirely to human nature. After falling nearly 1% in the first half-hour of trading, the S&P 500 is now down only 0.5%.
Here are your Monday morning market metrics. The Multi-Utilities sector is the only one in the green this morning, while Oil & Gas, Electrical Equipment and Energy Equipment are being hit the hardest.
The VIX is up 11% to 16.45 after closing on Friday at 14.85. Alcoa (AA) options are active this morning, with 9,127 October 17 puts changing hands. The put-call volume ratio is 1.05, (403,042/788,107). NYSE Adv/Dec 470/2,475. Nasdaq Adv/Dec 541/1,861.
Julian Close has been a business writer since the first day of the twenty-first century, having written for PRA International and the United Nations Department of Peacekeeping. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. He became a stockbroker in 1993, but now works for Fresh Brewed Media and uses his powers only for good. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.