AOL Calls Slip; Blue Chips Rally
Following the weakest NAPM report in 10 years, stocks staged a late-day blue
chip rally that took the Dow up nearly 1%. Gold and silver was the strongest
sector
while biotechs were the weakest.
At the close, the VIX had declined .30 to 23.99.
The OEX February 720 calls ended up 1.50 to 12.50.
Among bigger movers on heavier-than-average volume:
America Online
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PowerRating) lost 2.73 to 49.83 while the AOL February 50 calls
slipped 1.95 to 2.45 on more than 17,000 contracts.
Morgan Stanley
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PowerRating) gained 5 to 89.80 as broker/dealers posted big
gains. The Morgan Stanley February 90 calls gained 1.55 to 3.30 on more than
9000 contracts.
Microsoft
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PowerRating) gained 1 5/16 to 62 3/8 while the February 90 calls
added 3/16 to 1 on more than 21,000 contracts.
Altera
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PowerRating) was one of the chip winners, gaining 1 3/16 to 31 7/16.
The Altera February 30 calls gained 7/8 to 3 1/8 on more than 6000 contracts.