Oracle Puts Rise; Stocks Rally
Banks and semiconductors paced a broad market rally that took the Nasdaq up
0.6% and the Dow and S&P 500 up about 1.0% each in Monday trading. A weaker
than-expected National Association of Purchasing Managers number, as well as
weaker-than-expected construction spending in May served as the catalysts for
the rally.
By the close, the VIX had increased .07 to 22.33.
The OEX July 790 calls are up 5 1/4 to 19 1/4.
Among bigger movers on heavier-than-average volume:
Oracle
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PowerRating) fell 3 7/8 to 80 3/16 on news that its COO would leave the
company. The Oracle July 85 puts jumped 1 3/8 to 3 1/4 on more than 3200
contracts.
Intel
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PowerRating) rose 3 3/16 to 136 7/8 to help the semiconductor index. The
Intel July 140 calls rose 3/4 to 3 1/2 on triple the average volume.
Akamai
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PowerRating) tacked on 7 46/64 to 126 15/32 while the Akamai July 135
calls gained 4 1/4 to 6 1/8 on triple average volume.
Telefonos De Mexico
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PowerRating) held on to early gains to finish up 5 1/16 to
62 1/4. The TMX July 60 calls finished up 2 1/2 to 4 5/8 on triple average
volume.
Looking ahead, the May index of leading economic indicators is due out
Wednesday 10:00 AM ET. Analysts look for a 0.1% decrease.