CMGI Calls Jump; Stocks Finish Mixed
Weakness in blue chips caused the Dow and S&P 500 to finish lower
Wednesday while the Nasdaq gained 1.0% in a session that saw renewed strength in
Internets. Net stocks and insurance were the top sectors of the day while
retailers and transports were the weakest.
By the close, the VIX had increased .67 to 19.59.
The OEX September 830 calls ended down 4 1/2 to 8.
Among bigger movers on heavier-than-average volume:
CMGI
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PowerRating) was one of the top Internet stocks, rising 5 3/16 to 45
13/16. The CMGI September 45 calls gained 2 5/16 to 3 1/2on more than 6000
contracts.
B2Bs paced the Net gainers, with Commerce One
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PowerRating) rising 10 7/8 to 63
1/4. The Commerce One September 50 calls rose 9 to 13 7/8 on more than quadruple
average volume.
JDS Uniphase
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PowerRating) was unable to join the Nasdaq rally, as it fell 3
1/2 to 118. The JDSU September 120 puts added 2 3/4 to 6 3/4 on more than 7800
contracts.
Wireless company Puma Technologies
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PowerRating) rallied late in the day to
gain 3 55/64 to 25 31/64. The Puma September 25 calls jumped 1 11/16 to 2 5/16
on quadruple the average call volume.