Amazon Calls Rise; Nasdaq Sinks
Nasdaq stocks sank Tuesday following an analyst downgrade of Intel, and by
the close, the Nasdaq had fallen 2.1%. Airlines and forest and paper products
were the day’s top sectors while biotechs and drugs were the weakest.
At the clsoe, the VIX had increased 1.92 to 21.37.
The OEX September 830 calls fell 3 to 8 1/2.
Amazon
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PowerRating) paced a resurgent Internet group, rising 4 3/16 to 45
11/16. The Amazon September 45 calls gained 1 7/8 to 2 13/16 on quadruple
average volume.
Intel
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PowerRating) lost 4 11/16 to 69 1/4 following the analyst downgrade. The
Intel September 75 puts gained 3 11/16 to 6 1/8 on triple the average volume.
PMC Sierra
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PowerRating) fell 11 3/8 to 233 5/8 while the PMC Sierra September
puts rose 1 3/16 to 3 1/4 on more than 2200 contracts.
Yahoo!
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PowerRating) bounced back from early losses to close up 3 3/16 to 117
1/8 while the Yahoo! September 110 puts fell 1 1/4 to 2 1/2 on triple the
average volume.