IBM Puts Jump; Stocks Edge Higher
Stocks moved higher Thursday following yet more economic news of a rapidly
slowing economy. Chemicals were the day’s top sector while Internets were the
weakest.
At the close, the VIX had decreased 1.00 to 34.70.
The OEX January 700 calls ended up 1.20 to 10.20.
Among bigger movers on heavier-than-average volume:
IBM
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IBM |
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PowerRating) fell 4 7/16 to 81 9/16 while the IBM January 100 puts gained 5
5/8 to 20 1/2 on heavy volume of more than 8000 contracts.
Weak in telecom land was AT&T
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T |
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PowerRating) which fell 1 7/8 to 17 1/16 after
cutting its dividend. The AT&T January 20 calls ended down 9/16 to 3/8 on more than
11,000
contracts.
Nokia
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NOK |
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PowerRating) fell 1 3/16 to 39 15/16 while the Nokia January 35 calls
slipped 1 to 5 7/8 on more than 10,000 contracts.
Biogen
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PowerRating) rose 10 5/8 to 64 1/16 while the Biogen January 62 1/2
calls gained 3 5/8 to 5 1/8 on more than quadruple average volume.