Cisco Calls Slip; Nasdaq Rallies
Brushing off a Cisco downgrade, the Nasdaq staged an impressive 3.4% rally
for its second straight winning day. Internets were the day’s top group while
drugs were the weakest.
At the close, the VIX had decreased .60 to 3.19.
The OEX January 685 calls ended the day up 3 to 13.
Among bigger movers on heavier-than-average volume:
Cisco
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PowerRating) fought its way back toward the close and ended down just
7/8 to 36 1/4 despite receiving a downgrade. The Cisco January 35 calls fell 7/8
to 3 1/8 on on more than 24,000 contracts.
Motorola
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PowerRating) is set to announce earnings after the bell and closed up
1/2 to 21 3/16. The MOT January 20 calls ended up 9/16 to 2 1/4 on more than
11,000 contracts.
Yahoo!
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PowerRating) closed up 3/8 to 30 1/2 while the YHOO January 30 calls
rose 3/8 to 3 1/2 on more than 9000 contracts.
In the resurgent telcos, WorldCom
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PowerRating) added 1 7/16 to 21 1/4 while
the WCOM January 20 calls gained 13/16 to 1 3/4 on more than 11,000 contracts.