For traders with a short-term time horizon who are looking for big moves, we have updated our list of the S&P 1500 stocks trading above $10 that have the largest intraday high-low ranges (based on the average percent spread between the intraday high and low over the last 50 days). The stocks are grouped based on whether they have a rising or falling 50-day moving average (DMA).
While the VIX remains relatively low, in recent months we have started to see some big moves in individual stocks and that can be seen in the fact that a number of stocks in the table below currently have average intraday ranges of more than 5%. The most volatile stock in the S&P 1500 is Lennox International (LII), which has had an average intraday high-low range of 9.5% over the last 50 trading days. Granted, it’s only an $11 stock, so the 9.5% average range works out to just about a dollar per day, but it is still volatile nonetheless. Behind LII, there are another three stocks with average daily moves of over 8%, but here again, they are all relatively low priced stocks trading at less than $20 per share. The highest-priced stock on the current list is Innovative Industrial Properties (IIPR). With a share price of $91 and an average daily move of over 5%, IIPR typically sees an intraday swing of over $5. That’s a trader’s dream if you trade it right, but a nightmare if you get it wrong!
In terms of sector representation on this month’s list, Consumer Discretionary is the most prevalent with 17 different stocks. Behind Discretionary, the next closest sector is Energy at eleven. Finally, with regards to the breakdown between stocks with rising and falling moving averages, there are modestly more stocks with falling moving averages (29) than rising moving averages (21), suggesting some underlying weakness even with the broader S&P 500 trading not far from new highs. Start a two-week free trial to Bespoke Institutional to access our interactive Chart Scanner and Trend Analyzer tools.