Cisco Puts Rise; Techs Sink
Stocks are lower Friday following a mixed employment report that was not as
weak as some analysts had preferred. Integrated oils are the day’s top sector
while Internets are the weakest.
At mid-day, the VIX is up 1.72 to 31.68.
The OEX January 710 calls are down 5.40 to 5.60.
Among bigger movers on heavier-than-average volume:
Cisco
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PowerRating) gave up early gains and is currently down 3 7/16 to 38
7/16. The Cisco January 45 puts are up 2 1/4 to 6 7/8 on more than 5000
contracts.
Bank of America
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PowerRating) is off 3 5/8 to 47 7/8 as talk of the California
utility crisis stirred fears among banks. The B of A January 50 puts have gained
1 5/8 to 2 3/4 on heavier-than-average volume.
Micron
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PowerRating) is under pressure with the chip stocks and is off 2 3/8 to 37.
The Micron Jan 40 calls have fallen 1 3/16 to 1 1/2 on more than 4000 contracts.
Market bellwether GE
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PowerRating) is off 1 3/4 to 46 5/16 while the GE January 43
3/8 calls are down 3/8 to 4 3/4 on more than 5000 contracts.