EMC Calls Jump; Nasdaq Finishes Strong
The Nasdaq staged a late-session surge that took it 1.3% higher at the close
following a mixed bag of economic news throughout the day. The Dow and S&P
rose 0/3% and 0.5% respectively.
At the close, the VIX had decreased 1.33 to 23.18.
The OEX June 795 calls finished up 7/8 to 5 1/8.
Among bigger movers on heavier-than-average volume:
Storage leader EMC
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PowerRating) rose 3 3/8 to 73 7/8, a 52-week high. The EMC
July 57 1/2 calls added 2 1/2 to 17 1/4 on more than 10,000 contracts.
Oracle
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PowerRating) also helped pace the Nasdaq’s gains, rising 3 1/2 to 82
1/2. The Oracle July 70 calls rose 3 1/8 to 15 3/4 on more than 10,000
contracts.
Microsoft
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PowerRating) added 1 7/8 to 72 3/8, its highest close since May 1.
The Microsoft June 70 calls gained 1 3/8 to 2 1/2 on double the average volume.
Chase Manhattan Bank
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PowerRating) was under pressure in a weakened banking
group. The Chase June 50 puts rose 2 1/2 to 2 3/4 on triple average volume.
Looking ahead, the May new housing starts will be released at 8:30 AM ET on
Friday. Street estimates look for a figure of 1.62 million.