Brocade Puts Soar; Nasdaq Plunges
A stronger-than-expected second quarter GDP number helped send stocks sharply
lower Friday, with Internets and biotechs leading the charge to the downside.
Oil services, semiconductors and gold and silver were three sectors that managed
to stay positive.
At the close, the VIX had increased 1.99 to 24.32.
The OEX August 800 calls finished down 7 5/8 to 6 3/8.
Among bigger movers on heavier-than-average volume:
Brocade
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PowerRating) plunged 22 3/4 to 163 15/16 as many of the recent
high-flyers broke down. The Brocade August 170 puts soared 11 3/4 to 16 on five
times the average volume.
Nortel
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PowerRating) fell 4 7/8 to 73 5/8 while the Nortel September 70 calls sank
5 to 7 1/2 on more than 8000 contracts.
Coca-Cola
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PowerRating) was one of the top Dow stocks, rising 2 1/4 to 62 11/16.
The Coca-Cola November 70 calls gained 11/16 to 2 1/16 on more than 7000
contracts.
Nokia
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PowerRating) continued back from Thursday’s big decline and finished up 2
1/4 to 62 11/16. The Nokia September 45 calls rose 1 1/8 to 3 1/2 on more than
13,000 contracts.
Looking toward Monday, the Chicago Purchasing Managers Index will be released
at 10:00 AM ET and estimates look for a figure of 56.8.