Best Buy Puts Soar; Stocks Finish Lower
Stocks remained in the red Thursday as the Presidential vote recount in
Florida continued. Banks and insurance companies were the top sectors of the day
while retailers and Internets were the weakest.
At the close, the VIX had increased 1.36 to 29.64.
The OEX 740 calls finmished down 2 3/8 to 11 1/4.
Among bigger movers on heavier-than-average volume:
Electronics retailer Best Buy
(
BBY |
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PowerRating) plunged 20 5/16 to 32 1/16 following
a profit warning. The BBY November 40 puts jumped 7 13/16 to 8 1/8 on more than
3000 contracts.
Compaq
(
CPQ |
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PowerRating) fell 2.24 to 27.11 as worries over computer makers’ earnings
continued. The CPQ November 27 1/2 calls fell 1.25 to 1.25 on more than 9000
contracts.
Hewlett Packard
(
HWP |
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PowerRating) fell 2 3/4 to 42 15/16 and was one of the weakest
Dow components. The Hewlett Packard November 50 puts gained 2 1/4 to 7 7/8 on
more than 7000 contracts.
Disney
(
DIS |
Quote |
Chart |
News |
PowerRating) sank 5 3/4 to 31 1/8 despite beating earnings estimates, The
Disney November 35 puts jumped 2 11/16 to 3 1/4 on more than 900 contracts.