Altera Calls Rise; Stocks Bouncing
Stocks have bounced off of early morning lows and are trading near their
highs of the day despite the warning from Oracle. Oil services are the day’s top sector while Internets are the
weakest.
At mid-day, the VIX is up .45 to 31.48.
Among bigger winners on heavier-than-average volume:
Semis are strong and that is helping boost Altera
(
ALTR |
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PowerRating) up 7/8 to 26
1/4. The ALTR April 30 calls are up 15/16 to 2 1/4 on more than 1500 contracts.
Seibel Systems
(
SEBL |
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PowerRating) is down 6 7/8 to 37 3/4 following a downgrade by
CSFB. The SEBL March 40 calls are down 4 1/4 to 2 3/4 on more than 6000
contracts.
IBM
(
IBM |
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PowerRating) is off 2.38 to 103.67 while the IBM July 120 calls are down
1.00 to 5.30 on more than 5000 contracts.
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