The VIX is moving higher today
The Dow Jones Industrial Average (DJI) is modestly lower today, as traders take a wait-and-see approach ahead of this week's Fed meeting. Headlines around a U.S.-China trade deal are also in focus, with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) last seen lingering near breakeven as well. Despite the tepid price action, a sharp move higher in the Cboe Volatility Index (VIX) could suggest market volatility is picking up.
One name seeing unusual options trading is CrowdStrike Holdings Inc (NASDAQ:CRWD), as the shares eye a fourth straight loss, down 2.3% at $49.75. The weak price action comes days after the post-IPO lock-up period ended. Traders may be closing positions at the weekly 12/13 50-strike put, while on the call side new positions are opening at the weekly 12/13 50 strike. Overall options volume on the cybersecurity specialist is already about to pass the daily average.
One of the best stocks today is Virgin Galactic Holdings Inc (NYSE:SPCE), as the shares of Richard Branson's space travel company rise 12.9% to $8.20. The price action comes after Morgan Stanley began coverage with an "overweight" designation and $22 price target, saying safety and partnerships are the keys to the company's success, and that even one successful flight this year could be a catalyst for the stock.
One of the worst stocks today is Tivity Health Inc (NASDAQ:TVTY), down 11% at $20.07, after the company said its relationship with President and COO Dawn Zier ended on Dec. 4. The shares are pacing to close below the 20-day moving average for the first time since October.
