Chase Puts Gain; Stocks Sink
Stocks are broadly lower Friday following the September employment report
that showed a mixed bag of economic news. Chemicals and transportation are the
top sectors of the day while Internets and broker/dealers are the weakest.
At mid-day, the VIX has increased 1.23 to 24.86.
The OEX October 770 calls are down 4 1/2 to 6 3/4.
Among bigger movers on heavier-than-average volume:
Chase Manhattan
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PowerRating) is down 1 1/8 to 43 5/16 as the banking sector
takes a hit. The Chase October 45 puts have jumped 1 to 2 13/16 on more than
4000 contracts.
Morgan Stanley Dean Witter
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PowerRating) is down 5 5/16 to 86 11/16 while the MWD
October 85 puts have jumped 2 1/4 to 3 1/8 on more than five times the average
volume.
Home Depot
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PowerRating) is off 2 15/16 to 50 13/16 as the retail sector has fallen
2.8%. The Home Depot November 50 puts have gained 1 to 2 1/2 on more than 3000
contracts.
Qualcomm
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PowerRating) has has eased 3 1/4 to 79 5/8 while the QCOM October 80
calls have fallen 1 7/8 to 4 1/4 on more than 2700 contracts.