AMAT Calls Sink; Stocks Fall
Stocks finished lower as earnings worries and pre-announcements weighed
heavily on tech. Insurance was the day’s top sector while semiconductors were
the weakest.
At the close, the VIX had increased .93 to 34.75.
In the chips, Applied Materials
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PowerRating) fell 3 1/2 to 40 while the AMAT
May 45 calls fell 1 5/8 to 3 on more than 11,000 contracts.
Micron
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PowerRating) was also under pressure in the semis as it fell 5.28 to 36.25
while the MU July 42.5 calls lost 3.20 to 3.80 on more than 10,000 contracts.
Microsoft bucked the negative tech trend as it gained 1 1/8 to 55 13/16. The
Microsoft May 55 puts fell 3/4 to 3 1/2 on more than 10,000 contracts.