Cisco Calls Slip; Nasdaq Pumeled
The Nasdaq swoon continued Tuesday, with the average sinking 3.4% following
analyst downgrades of Xilinx and Altera. Oil services and integrated oils were
the top sectors while Internets and semiconductors were the weakest.
At the close, the VIX had increased 1.11 to 27.44.
The OEX October 760 calls closed down 3 1/4 to 3.
Among bigger movers on heavier-than-average volume:
Cisco Systems
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PowerRating) continued its downward drift, falling 2 9/16 to 51
1/8. The Cisco October 55 calls lost 7/8 to 1 3/8 on more than 12,000 contracts.
Texas Instruments
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PowerRating), fell 2 1/8 to 43 1/4 in a bloodied semiconductor
sector. The Texas Instruments October 45 puts rose 1 1/2 to 4 1/4 on more than
9000 contracts.
Also weak in the chips was Micron
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PowerRating), falling 2 7/8 to 36 7/8. The
Micron October 40 calls fell 1 7/16 to 1 9/16 on more than 8000 contacts.
Xilinx
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PowerRating) was the disaster of the day, falling 16 11/16 to 62 7/16.
The XLNX October 60 puts jumped 3 to 3 1/2 on heavier-than-average put volume.