AMCC Puts Rise; Techs Tank
Tech stocks are under pressure Friday following a round of
weaker-than-expected earnings and quite a few negative warnings about future
quarters. Drugs are the day’s top sector while semiconductors are the weakest.
At mid-day, the VIX is up .74 to 25.72.
The OEX February 720 calls are down 2.30 to 9.20.
Among bigger movers on heavier-than-average volume:
Applied Micro Circuits
PowerRating) has fallen 6 13/16 to 71 3/16 as select
techs have been walloped. The AMCC Febraury 70 puts are up 2 3/8 to 5 1/4 on
more than 10,000 contracts.
PowerRating) is the disaster of the day, falling 26 1/4 to 69 5/8
after warning of future revenue problems. The PMCS February 89 puts have jumped
9 1/4 to 14 on more than 1300 contracts.