AOL Calls Slip; Nasdaq Weakens
The Nasdaq sank for the second-straight day Friday as market participants
remained wary ahead of Tuesday’s Federal Reserve meeting. Insurance and
retailers were the strongest sectors of the day, while Internets and retailers
were the weakest.
By the close, the VIX had decreased .09 to 25.57.
The OEX 800 calls finished down 2 3/8 to 12 1/8.
Among bigger movers on heavier-than-average volume:
AOL
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PowerRating) shareholders approved the Time Warner merger, but AOL stocks
still fell 3 3/16 to 53 5/16 as the Net sector remained under pressure. The AOL
July 55 calls fell 1 5/16 to 2 5/16 on more than 6200 contracts.
Amazon
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PowerRating) remained weak throughout the day and closed down 8 1/8 to
33 7/8. The Amazon July 30 puts jumped 2 to 2 11/16 on more than 4300 contracts.
Brocade
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PowerRating) slipped 2 3/16 to 156 while the Brocade July 180 calls
fell 6 1/4 to 3 3/4 on heavier-than-average volume.
Rambus
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PowerRating) was one of the few big winners of the day, rising 17 9/16
to 114 11/16 after news of a legal settlement with Hitachi. The Rambus July 115
calls gained 9 1/2 to 15 5/8 on triple the average volume.
Looking ahead, the May existing home sales report is due out Monday at 10:00
AM ET.