Brocade Calls Rise; Stocks Edge Higher

Blue chips led the three major averages higher Monday, just a day ahead of
Fed Chairman Greenspan’s appearance on Capitol Hill. Biotechs were the
day’s top sector while semiconductors were the weakest.

At the close, the VIX was down .60 to 24.55.

The OEX February 700 calls ended up 1.20 to 3.50.

Among bigger movers on heavier-than-average volume:

Brocade
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fell 11 1/8 to 63 as storage and select tech took a big
hit. The Brocade February 65 puts jumped  3 5/8 to 4 1/2 on
heavier-than-average volume.

Market bellwether GE
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gained 1.85 to 47.51 while the GE March 45 puts
sank .75 to 1.20 on more than 5700 contracts.

Corning
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added .74 to 41.70 while the Corning March 45 calls gained
.45 to 2.85 on more than 5000 contracts.

Veritas Software
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lost 6 3/16 to 71 15/16 while the VRTS May 65
puts added 2 1/4 to 8 3/4 on more than 18,000 contracts.