Amgen Calls Rise; Nasdaq Sinks
The Nasdaq wrapped-up the week with 2.9% plunge, as traders remained
concerned about potential inflationary pressures mounting because of the steep
price jumps in energy and raw materials. Retailers and banks were the strongest sectors
while Internets and semis were the weakest.
At the close, the VIX had fallen .39 to 20.68.
The OEX September 820 calls lost 4 to 4 7/8.
Among bigger movers on heavier-than-average volume:
Biotechs were one of the days bright spots, with Amgen
(
AMGN |
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PowerRating) gaining 2
15/16 to 74 15/16. The Amgen October 80 calls gained 7/8 to 4 1/2 on more than
7000 contracts.
Select financials posted solid gains, as Fannie Mae
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FNM |
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PowerRating) rose 2 9/16 to
58 1/8. The Fannie Mae December 65 calls jumped 5 7/16 to 6 5/8 on more than
1700 contracts.
In the sliding chip sector, Applied Materials
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AMAT |
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PowerRating) fell 4 7/8 to 75
1/2 while the AMAT September 75 puts rose 1 9/16 to 2 3/8 on more than 1500
contracts.
Ariba
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ARBA |
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PowerRating) fell 8 1/8 to 153 3/4 in the weak Internet arena. The Ariba
September 160 calls sank 5 1/4 to 2 7/8 on triple average volume.