FDRY Calls Jump; Nasdaq Soars
Favorable earnings reports helped rally the Nasdaq to a 7.8% gain Wednesday,
as semiconductors soared 17% to lead the way. Also strong were financials and
Internets, while chemical and drugs were the weakest sectors.
At the close, the VIX had decreased 4.33 to 28.17.
The OEX October 740 calls closed up 1 3/8 to 1 3/4.
Among bigger movers on heavier-than-average volume:
Switch maker Foundry Networks
(
FDRY |
Quote |
Chart |
News |
PowerRating) jumped 16 9/16 to 83 1/16 after
beating third quarter earnings estimates. The EXTR October 75 calls jumped 7 7/8
to 8 1/8 on triple average volume.
Avanex
(
AVNX |
Quote |
Chart |
News |
PowerRating) soared 27 1/16 to 117 1/16 on better-than-expected
earnings while the AVNX October 115 puts sank 15 5/16 to 2 7/16 on quadruple the
average put volume.
Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating) rallied 10 1/8 to 61 7/8 after trouncing Street
earnings estimates. The Microsoft October 60 calls rose 1 3/4 to 2 1/16 on more
than 20,000 contracts.
AT&T
(
T |
Quote |
Chart |
News |
PowerRating) rallied 1 7/16 to 24 13/16 in a strong telecom sector. The
AT&T November 20 calls rose 2 1/2 to 5 3/4 on more than 10,000 contracts.