BMY Puts Rise; Stocks Slip
On the heels of the Fed’s surprise rate cut stocks finished lower, although
the Nasdaq did manage to hold on to most of Wednesday’s gains. Transportation
stocks were the day’s top sector while insurance was the weakest.
At the close, the VIX was up 1.41 to 30.08.
Among bigger movers on heavier-than-average volume:
Drugs fell victim to profit-taking after big gains recently, and Bristol
PowerRating) was no exception, falling 3 3/4 to 63 1/16. The BMY
January 60 puts rose 11/16 to 1 3/16 on more than 12,000 contracts.