Cisco Calls Jump; Nasdaq Soars
Stocks bounced off of oversold levels Friday, with the Nasdaq leading the
rally despite a round of stronger-than-expected economic numbers.
Semiconductors and Internets were the day’s top sectors while oil services and
gold and silver were the weakest.
At the close, the VIX had decreased 4.19 to 30.82.
The OEX October 740 calls gained 2 5/8 to 5 3/8.
Among bigger movers on heavier-than-average volume:
Cisco
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PowerRating) bounced back 6 1/4 to 56 1/16. The Cisco October 55 calls
gained 1 1/4 to 2 1/8 on more than 13,000 contracts.
Intel
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PowerRating) was also strong, gaining 3 1/4 to 40 3/8 while the Intel
November 40 calls rose 1 1/4 to 3 3/4 on heavier-than-average volume.
Dell
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PowerRating) benefited from Gateway’s solid earnings news and jumped 4
1/8 to 27 5/16. The Dell October 25 calls rose 2 to 2 1/2 on more than 3500
contracts.
Broker/dealers were strong, and among them was Schwab
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PowerRating), gaining 4
1/4 to 31 3/8. The Schwab October 30 calls rose 2 1/16 to 2 5/8 on quadruple
average volume.