Ciena Calls Jump:Stocks Rally

Better-than-expected earnings from Ciena have stocks in an upbeat mood
Thursday as the Nasdaq holds on to an impressive 3% gain. Semiconductors are the
day’s top sector while oil services are the weakest.

At mid-day, the VIX has decreased .34 to 23.88.

The OEX February 690 calls have lost .15 to .05.

Among bigger movers on heavier-than-average volume:

Ciena
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is the star of the day rising 16 1/4 to 93 1/16. The Ciena
February 90 calls are up 4 1/8 to 4 1/2 on more than 13,000 contracts.

Also rallying big is JDS Uniphase
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which has gained 4 7/16 to 45
11/16. The JDSU February 45 calls have added 1 5/16 to 1 13/16 on more than
15,000 contracts.

AOL
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has gained 1.12 to 49.65 while the AOL February 60 puts have
fallen 2.00 to 9.90 on more than 6000 contracts.

Corvis
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has risen 15/16 to 17 7/16 while the Corvis March 20 calls
have gained 1/4 to 1 3/4 on more than 5000 contracts.