Continue reading for more on today’s market, including:
- A sentiment signal seen in March 2009 just flashed again.
- The drug stock one analyst thinks can rally more than 300%.
- Plus, more put activity on Ford; artificial intelligence stock could have a buyer; and Signet shares sink again.
One name once again seeing unusual options trading is Ford Motor Company (NYSE:F), as put traders seem to be replicating activity seen last week. More specifically, Trade-Alert notes heavy activity at the January 2019 8-strike put, a contract that saw buy-to-open activity last week. More buying at this strike would suggest traders continue to bet on more downside for F shares, which were last seen trading down 3.7% at $8.49, on pace for a fourth straight loss.
Looking at today’s winningest stocks, one name standing out on the Nasdaq is Veritone Inc (NASDAQ:VERI). The shares of the artificial intelligence expert have jumped 18.9% to trade at $6.69, after Apis Capital offered to buy the company for $10.26 per share. This adds VERI to the long list of names rising on M&A news today, and briefly had the stock trading atop the 50-day moving average for the first since June.
Signet Jewelers Ltd. (NYSE:SIG) is one of the worst stocks on the New York Stock Exchange today, last seen trading 8.2% below breakeven at $35.39, following a price-target cut to $42 from $62 at Nomura. This is just more of the same for SIG stock, which suffered a huge post-earnings bear gap last Thursday.
The Barclays Bank PLC iPath S&P 500 VIX Short-Term Futures ETN (VXX) was trading at $41.07 per share on Monday afternoon, up $0.77 (+1.91%). Year-to-date, VXX has gained 47.10%, versus a -1.33% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of Schaeffers Research.