AMCC Calls Rise; Nasdaq Rallies
Thanks to a rebound in biotechs and semiconductors, the Nasdaq managed to
bounce back from its recent pullback by posting a 2.1% gain Thursday. Drugs
joined the semis and biotechs as the top sectors of the day while chemicals and
forest and paper products were the weakest.
At the close, the VIX had decreased 1.77 to 20.88.
The OEX September 820 calls ended the day up 1/2 to 8 7/8.
Among bigger movers on heavier-than-average volume:
Applied Micro Circuits
(
AMCC |
Quote |
Chart |
News |
PowerRating) added to early gains and finished up 19
57/64 to 198 15/16. The AMCC September 210 calls rose 2 3/4 to 3 1/2 on
quadruple average volume.
Sun Microsystems
(
SUNW |
Quote |
Chart |
News |
PowerRating) staged a solid comeback from Wednesday’s slide
with a gain of 6 5/16 to 123 15/16. The SUNW September 120 puts sank 3 1/4 to 2
on triple average volume.
Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating) saw a surge in call volume on unconfirmed talk of a
settlement in its antitrust case. Microsoft ended the day up 5/8 to 70 1/16
while the Microsoft September 75 calls gained 1/8 to 3/8 on nearly 15,000
contracts.
In the biotech arena, Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating) gained 3 15/16 to 72 while the Amgen
September 75 calls rose 7/8 to 2 1/8 on double the average volume.