U.S. stock futures are headed lower this morning. Volatility has ramped up lately, with Wall Street’s fortunes shifting with every tweet from President Donald Trump. Global tensions are up after Trump indicated in a tweet that missile strikes in Syria were coming against the Russian backed al-Assad regime.
Heading into the open, Dow Jones Industrial Average futures are down 0.88%, S&P 500 futures are off 0.81% and Nasdaq-100 futures have fallen 0.76%.
Turning to the options pits, calls were quite popular amid yesterday’s rally. Overall, about 17.7 million calls and 14.8 million puts changed hands on the session. The CBOE single-session equity put/call volume ratio plunged to 0.57. The 10-day moving average hit a four-week low of 0.66.
Tuesday’s options activity was dominated by Facebook, Inc. (NASDAQ:FB), as CEO Mark Zuckerberg testified before the Senate Judiciary and Commerce committees. Meanwhile, AT&T Inc. (NYSE:T) call traders gained confidence despite rumors of renewed merger talks between Sprint Corporation (NYSE:S) and T-Mobile US, Inc. (NASDAQ:TMUS). Finally, Exxon Mobil Corporation (NYSE:XOM) was boosted by a bullish note from Bank of America.