Cisco Calls Rise; Nasdaq Bounces Back
A weaker-than-expected Chicago Purchasing Managers Index of 52.0 was lower
than the anticipated 55.2, and that has helped give stocks a boost Monday, as
the Nasdaq has recovered about 2% from last week’s 10.5% debacle.
Semiconductors are the day’s top-performing sector, while retailers and
biotech are the weakest.
At mid-day, the VIX is down .64 to 23.66.
The OEX August 790 calls are up 4 to 14 3/8.
Among the bigger movers on heavier-than-average volume:
Cisco
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PowerRating) is helping power that resurgent Nasdaq and is up 2 1/16 to
64 7/8. The Cisco August 65 calls are up 3/4 to 4 on double the average volume.
Veritas
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PowerRating) has gained 10 13/16 to 98 1/2, while the Veritas August
100 calls have jumped 3 5/8 to 6 7/8 on triple the average volume.
America Online
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PowerRating) is up 1/8 to 53 15/16 while the AOL August 55 calls
have risen 3/8 to 1 7/8 on heavy volume of more than 10,000 contracts.
Laser eye correction company VISX
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PowerRating) is up 5 1/16 to 27 1/16 on news
the Carl Icahn will acquire 11% of the company. The VISX August 25 calls have
jumped 2 11/16 to 3 1/2 on quadruple the average volume.
Looking ahead, Tuesday will see the release of personal income and spending
numbers, June construction spending, and the Purchasing Managers Index figure.