Advanced Micro Calls Fall; Market Weakens
Stocks are mired in red Wednesday thanks to big declines in the chip and
Internet sectors. The Nasdaq is off by 2.6%, while the Dow and S&P 500 are
each down about 1%. Oil services and insurance are the top two best-performing
At mid-day, the VIX has increased 1.33 to 23.00.
The OEX 800 calls are up 1.33 to 23.00.
Among bigger movers on heavier-than-average volume:
PowerRating) is up 2 13/16 to 59 7/8 after receiving an upgrade
from Salomon Smith Barney. The KMB August 55 calls are up 1 7/8 to 5 1/2 on more
than 1400 contratcs.
Profit Recovery Group
PowerRating) has plunged 4 11/16 after a profit warning
and downgrade from Prudential Securities. The PGRX August 12 1/2 puts are up 1
15/16 to 2 7/16 on double the average volume.
Looking ahead, the employment cost index will be released Thursday at 8:30 AM ET, and estimates call for a 1.1% increase.