EMC CallsFall; Nasdaq Sinks
Stocks have started off the new year on a bad note, with the Nasdaq sinking
by more than 5%. Gold and silver is the day’s top sector while Internets are the
weakest.
At mid-day, the VIX is up 2.54 to 32.77.
The OEX January 710 calls are down 2.30 to 4.50.
Among bigger movers on heavier-than-average volume:
Storage giant EMC
(
EMC |
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PowerRating) is off 9 7/8 to 56 5/8 following a downgrade. The
EMC January 85 puts have gained 9 3/8 to 28 1/4 on more than 8,000 contracts.
Seibel Systems
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PowerRating) is another tech getting hit hard, falling 8 1/8 to
59 9/16. The SEBL January 55 calls are down 5 5/8 to 10 1/2 on more than 13,000
contracts.
GE
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GE |
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PowerRating) is down 3 11/16 to 44 1/4 while the GE January 50 puts are up 2
3/4 to 6 on more than 4000 contracts.
Also weak in tech is Cisco
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PowerRating) which has lost 3 1/2 to 34 3/4. The
Cisco January 40 calls are down 1 3/8 to 1 1/4 on more than 7000 contracts.