IBM Puts Soar; Stocks Struggle
Earnings worries continued to weigh on stocks Wednesday as the Dow took a big
early-morning hit after IBM warned of potential revenue problems. Stocks battled
back from early declines, and at the close, the Dow was down 1.1%, the Nasdaq
had lost 1.3%, and the S&P 500 eased 0.6%.
At the close, the VIX had decreased .29 to 32.42.
The OEX October 720 calls closed down 1 3/4 to 2 1/4.
Among bigger movers on heavier-than-average volume:
PowerRating) fell 3 5/16 to 36 7/8 and was one of the
weakest-performing semiconductor stocks. The TXN October 40 puts jumped 2 3/4 to
4 7/8 on heavier-than-average volume.