Cisco Calls Rise; Techs Battle Back
Stocks are bouncing back from oversold levels Thursday as big cap techs lead
the way. Semiconductors are the day’s top sector while gold and silver is the
weakest.
At mid-day, the VIX is up .85 to 36.55.
The OEX January 700 calls are up 2.50 to 11.50.
Among bigger movers on heavier-than-average volume:
Cisco
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PowerRating) has jumped 3 to 39 1/2 to help motivate the techs. The
Cisco January 45 calls have gained 5/8 to 2 on more than 7000 contracts.
Lucent
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PowerRating) is off 1 1/2 to 14 after issuing yet another earnings warning.
The Lucent January 15 calls are down 3/4 to 1 1/2 on more than 6000 contracts.
Also weak in telecom land is AT&T
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PowerRating) which has fallen 1 7/8 to 17
1/16. The AT&T January 17 1/2 calls are down 1 1/8 to 1 on more than 4000
contracts.
IBM
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PowerRating) is off 1/16 to 85 15/16 while the IBM January 85 puts have
risen 1/2 to 6 on heavy volume of more than 7000 contracts.