Brocade Calls Slip; Nasdaq Sags

Stocks have slipped yet again Monday as technology shares are under pressure.
Oil services are the day’s top sector while biotechs are the weakest.

At mid-day, the VIX is up 1.60 to 33.63.

The OEX January 700 calls are down 1.50 to 5.90.

Among bigger movers on heavier than average volume:

Brocade
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is off 3 1/4 to 76 11/16 as tech buckles. The Brocade
January 90 calls have fallen 2 to 2 on more than 5000 contracts.

Cisco
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is down 1 1/8 to 35 1/2 following unfavorable comments in Barrons
over the weekend. The Cisco June 40 puts have gained 7/8 to 5 5/8 on more
than 6000 contracts.

BEA Systems
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has fallen 10 to 43 5/8 while the BEA Systems January
45 puts have gained 3 5/8 to 6 3/8 on quadruple average volume.

Check Point Software
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has lost 8 11/16 to 107 3/4 while the Check
Point January 135 calls have fallen 2 1/2 to 2 1/2 on heavier-than-average
volume.