Broadcom Puts Soar; Stocks Weak
Technology profit worries and the ongoing legal fight in Florida have put
stocks in a negative mood Friday, and that has the Nasdaq slipping back below
the 3000 level. Retailers are the strongest group while telecom is the weakest.
At mid-day, the VIX is up .37 to 28.75.
The OEX 730 calls are down 1 to 3/8.
Among bigger movers on heavier-than-average volume:
Broadcom
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PowerRating) is down 15 to 129 1/2 as high-flying techs take a hit.
The Broadcom November 140 puts are up 8 1/4 to 10 3/4 on double the average
volume.
Juniper Networks
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PowerRating) is down 10 9/16 to 151 1/4 while the JNPR
November 140 calls are down 19 7/8 to 8 7/8 on heavier-than-average volume.
America Online
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PowerRating) is up .31 to 49.16 and is avoiding the downdraft.
The AOL November 50 puts are down .55 to .95 on more than 10,000 contracts.
Philip Morris
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MO |
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PowerRating) is up 1/8 to 36 7/16 while the Philip Morris January 01
32 1/2 puts have eased 3/16 to 1 on more than 5000 contracts.