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Steady as she goes

The stock market performed numerous gyrations this week but closed on Thursday within half of one percent from where it started on the S&P 500. Stocks began the session Friday morning by moving upward, but that trend has now reversed itself. After a harrowing night that included new six year lows, the price of oil is somewhat firmer this morning with WTI crude trading up $0.47 to $42.70. It is shaping up to be a relatively quiet day for the most part.

At present, stocks are mixed. The S&P 500 is up 0.18%, the DJIA is up 0.27% and the NASDAQ is down 0.01%.

Here are your Friday morning market metrics. The industries showing strength today Construction & Engineering, Airlines and Automobiles. The industries showing weakness today are Personal Products, Media and Semiconductors & Semiconductor Equipment.

The VIX is down 0.15% to 13.47 after closing yesterday at 13.49. The most active options this morning is iShares Russell 2000 ETF (IWM) with 14,631 August-21 expiring $120 puts and 14,560 August-21 expiring 119 puts changing hands. The total put-call volume ratio is 1.43 (255,594/178,660). NYSE Adv/Dec 1,719/1,151. NASDAQ Adv/Dec 1,241/1,118. 

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can follow Julian’s daily hedged options trades and his unfolding market commentary via twitter: @JulianClose_MIC.

Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.