GE Calls Fall; Nasdaq Tanks
Nasdaq stocks were pummeled Wednesday as election controversy and earnings
worries hung like dark clouds over technology stocks. Gold and silver were the
day’s top sector while Internets were the the weakest.
At the close, the VIX was up 2.11 to 31.04.
The OEX December 745 calls fell 3 1/4 to 4.
Among bigger movers on heavier-than-average volume:
General Electric
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PowerRating) fell 2 3/16 to 48 9/16 as the S&P bellwether
fell to a five-month low. The GE December 50 calls fell 15/16 to 2 1/16 on more
than 6000 contracts.
Terra Lycos
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PowerRating) was hammered along with the rest of the Nets, falling
1 9/16 to 13 11/16. The TRLY January 01 15 puts gained 1 3/16 to 3 5/8 on more
than 21,000 contracts.
Quaker Oats
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PowerRating) sank 7 7/16 to 87 as the Coca-Cola talks appeared to
have ended. The OAT December 90 calls fell 5 1/2 to 2 7/8 on more than 3000
contracts.
Financials were weak, and Chase Manhattan
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PowerRating) was no exception as it
fell 1 1/4 to 37 7/16. The CMB December 45 puts rose 1 3/8 to 7 3/4 on more than
5000 contracts.