General Motors Calls Jump; Stocks Mixed
Blue chip stocks powered a 1.5% rise in the Dow Monday, as traders await what
looks like will be a photo-finish Presidential election. The Nasdaq failed to
join the Dow and edged down about 1.0%. Insurance and drugs were the top sectors
while broker/dealers and oil services were the weakest.
At the close, the VIX had increased .72 to 27.03.
The OEX November 780 calls ended up 1/2 to 3 3/4.
Among bigger movers on heavier-than-average volume:
General Motors
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PowerRating) jumped 3 15/16 to 60 15/16 and was the top performing
Dow stock. The GM November 60 calls rose 1 5/16 to 2 1/4 on more than 2600
contracts.
AOL
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PowerRating) rose 2.43 to 55.86 while the AOL November 55 calls gained .90
to 2.50 on more than 8000 contracts.
Cisco
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PowerRating) lost 1 5/8 to 55 1/8 ahead of its earnings announcement
after the bell. The Cisco November 60 calls eased 3/8 to 1 1/2 on heavy volume
of more than 17,000 contracts.
Storage leader EMC
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PowerRating) fell 2 15/16 to 94 13/16 while the EMC November
90 puts gained 13/16 to 2 3/8 on more than 8000 contracts.