Amazon Puts Jump; Stocks Mixed
Blue chips are higher while the Nasdaq remains in the red Friday, as traders
ready for Tuesday’s much-anticipated Federal Reserve meeting. Semiconductors and
insurance are the strongest sectors of the day, and Internets and gold and
silver are the weakest.
At mid-day, the VIX has decreased .54 to 25.12.
The OEX 810 calls are up 1/2 to 10 3/4.
Among bigger movers on heavier-than-average volume:
Amazon
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PowerRating) is off 9 to 33 after Lehman Brothers made negative
comments about Amazon’s credit quality. The Amazon July 35 puts have jumped 3
5/16 top 5 on nearly 1400 contracts.
Also weak in the Net sector is eBay
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PowerRating), which is down 6 3/4 to 51
7/16. The eBay July 50 puts are up 2 9/16 to 4 5/8 on triple the average volume.
Helping the Dow is General Electric
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PowerRating), which is up 1 to 49 3/4. The GE
July 50 calls are up 7/16 to 1 15/16 on triple the average volume.
Rambus
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PowerRating) is the big winner of the day, up 22 7/8 to 120 after news
of a legal settlement with Hitachi. The Rambus July 125 calls are up 9 to 14 on
triple the average volume.
Looking ahead, the May existing home sales report is due out Monday at 10:00
AM ET.