Oracle Calls Rise; Stocks Rally
Inflation-friendly economic numbers helped rally stocks Thursday, as the
Nasdaq booked a 2.5% gain while the Dow and S&P 500 each rose 1%. The top
sectors were biotechs and banks, and the weakest sectors were oils and
retailers.
By the close, the VIX had decreased .31 to 19.28.
The OEX 830 calls gained 2 1/2 to 10 1/2.
Among bigger gainers on heavier-than-average volume:
Oracle
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PowerRating) hit all-time highs Thursday, rising 2 11/16 to 90 15/16.
The Oracle September 90 calls gained 7/8 to 3 3/4 on nearly 6000 contracts.
Also strong in big-cap tech was Dell
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PowerRating), which jumped 3 11/16 to 43
5/8. The Dell September 40 calls rocketed 2 1/2 to 3 3/4 on heavier-than-average
volume.
Best Buy
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PowerRating) remained under pressure along with the retailing group,
falling 9 1/4 to 61 3/4. The Best Buy September 65 puts gained 3 3/16 to 4
3/4 on more than 9000 contracts.
In the strong biotech group, Millennium Pharmaceuticals
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PowerRating) soared 13
1/8 to 143 1/8. The Millennium September 140 calls added 7 to 9 5/8 on quadruple
average volume.