Celera Calls Rise; Stocks Edge Upward
Stocks moved higher following a larger-than expected drop in durable goods
orders for July, and the Nasdaq led the way, gaining 1.1% for the session. Biotechs and
Internets were the strongest
sectors of the day while oils and oil services are the weakest.
At the close, the VIX had decreased .76 to 19.10.
The OEX September 820 calls are unchanged at 16 1/2.
Among bigger movers on heavier-than-average volume:
Genomic and biotech stocks moved sharply higher, with Celera Genomics leading
the way with a 12 5/16 point gain to 95. The Celera September 105 calls rose 2
1/4 to 3 1/8 on heavier-than-average volume.
AOL
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PowerRating) added to early gains and finished up 1 1/8 to 59 7/8 while the
AOL September 60 calls added 13/16 to 2 1/16 on more than 12,000 contracts.
Biotech company Geron
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PowerRating) rose 6 3/16 to 31 11/16 while the Geron
September 30 calls gained 2 1/2 to 3 5/8 on quadruple average call volume.
Market bellwether and Dow component General Electric
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PowerRating) rose to an
all-time high, gaining 1 to 58 15/16. The GE September 60 calls lifted 3/8 to 1
1/8 on quadruple average volume.
Looking to Friday, the second quarter GDP will be released at 8:30 AM ET, and
the July existing home sales will be released at 10:00 AM ET.