Qualcomm Calls Rise; Stocks Mixed
Optimism about earnings helped move the Nasdaq higher Monday by about 0.7%,
but cautiousness ahead of Tuesday’s CPI report kept the Dow and S&P 500 flat
for the day. Biotechs and health care were the top sectors, while oil services
and chemicals were the weakest.
By the close, the VIX had decreased .59 to 22.02.
The OEX July 830 calls slipped 3/8 to 2 3/4.
Among bigger movers on heavier-than-average volume:
Qualcomm
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PowerRating) rose 6 3/4 to 69 13/16 after it had Japan and Europe
uphold the company’s foreign patents. The QCOM July 65 calls rose 3 15/16 to 6
1/4 on more than 11,500 shares.
Lycos
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PowerRating) soared 8 3/16 to 57 3/8 as portals showed renewed strength.
The Lycos July 55 calls rose 3 5/8 to 4 1/8 on five times the average volume.
PeopleSoft
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PowerRating) added to recent gains, rising 1 5/8 to 22 1/2. The
PeopleSoft August 20 calls added 1 3/16 to 3 3/4 on more than 7000 contracts.
Novell
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PowerRating) also added to recent gains, jumping 1 21/32 to 11 7/16.
The Novell July 10 calls gained 1 1/8 to 1 3/8 on more than 6000 contracts.