Chase Calls Gain; Blue Chips Rally
Blue chips out performed the Nasdaq following a slower-than-expected third
quarter GDP number Friday. Telecom and airlines were the day’s top sectors while
biotechs and oil services were the weakest.
At the close, the VIX had decreased .52 to 30.53.
The OEX November 740 calls finished up 3 3/8 to 14.
Among bigger movers on heavier-than-average volume:
Chase Manhattan
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PowerRating) jumped 2 11/16 to 42 11/16 as banks responed well
to the inflation-tame GDP number. The Chase November 40 calls rose 1 7/16 to 3
1/2 on more than 6000 contracts.
Microsoft
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PowerRating) held on to early gains and finished up 3 1/4 to 67
11/16. The Microsoft November 70 calls rose13/16 to 2 7/8 on more than 12,000
contracts.
Inktomi
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PowerRating) sank 15 1/16 to 67 15/16 as weakness in select Internets
continued. The INKT November 80 calls fell 5 1/2 to 3 on triple the average
volume.
Micron
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PowerRating) fell 1 3/8 to 30 1/4 as semis were again under pressure. The
Micron November 30 calls fell 1 1/2 to 3 1/4 on more than 8000 contracts.