Nokia Calls Rise; Stocks Again Sink
A stronger-than-expected second quarter GDP number helped send stocks lower
Friday with the Nasdaq falling for the third straight day. Semiconductors and
chemicals are the day’s top sectors while Internets and biotechs are the
weakest.
At mid-day, the VIX has increased 1.95 to 24.28.
The OEX August 800 calls are down 5 1/2 to 8 1/2.
Among bigger movers on heavier-than-average volume:
Nokia
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PowerRating) is bouncing back from Thursday’s big decline and is up 1
15/16 to 43. The Nokia September 45 calls are up 5/8 to 3 on more than 13,000
contracts.
JDS Uniphase
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PowerRating) is off 7 3/16 to 121 5/16 while the JDSU August 120
puts have gained 2 1/2 to 6 3/4 on more than 6800 contracts.
SDL Inc.
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PowerRating) is also showing weakness, falling 32 1/2 to 342 1/2. The
SDLI August 380 calls are down 15 to 11 on quadruple the average volume.
Intel
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PowerRating) is off 3 3/4 to 133 1/4 along with many of the recent
Nasdaq leaders. The Intel August 130 puts are up 1 3/4 to 4 1/4 on quadruple the
average volume.
Looking toward Monday, the Chicago Purchasing Managers Index will be released
at 10:00 AM ET and estimates look for a figure of 56.8.