Intel Calls Fall; Nasdaq Weakens
Stocks have drifted lower Tuesday, with the Nasdaq taking the brunt of the
easing with a 1.7% decline. Retailers and forest and paper products are the
day’s top sectors while biotechs and drugs are the weakest.
At mid-day, the VIX has jumped 2.23 to 21.68.
The OEX September 830 calls are down 3 1/2 to 8.
Intel
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PowerRating) is off 4 1/2 to 69 7/16 after receiving a downgrade from a
prominent analyst. The Intel September 70 calls are off 2 1/2 to 2 on more than
9000 contracts.
Ford Motor
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PowerRating) is bouncing back from last week’s decline and is up 1 1/16
to 26 1/16. The Ford September 25 calls have added 3/4 to 2 1/4 on more than
4000 contracts.
B2Bs are strong again Tuesday with Commerce One
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PowerRating) rising 4 3/4 to
70 3/4. The CMRC September 70 calls have gained 1 7/8 to 5 on more than 1400
contracts.
Dell Computer
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PowerRating) is down 2 3/8 to 40 11/16 following last week’s
run-up. The Dell September 40 puts have gained 1/2 to 3/4 on more than 3500
contracts.