Intel Calls Fall; Stocks Sink

Stocks fell across the board Friday despite an inflation-tame CPI report, and
at the close the Nasdaq was down 2.0% and the Dow was down 1.4%. Oils and oil
services were the top sectors of the day while broker/dealers and forest and
paper products were the weakest.

At the close, the VIX had increased 1.24 to 21.93.

The OEX September 785 calls fell 11 to 4 3/4.

Among bigger movers on heavier-than-average volume:

Intel
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continued to faces selling pressure, falling 2 7/64 to 57
33/64. The Intel October 65 calls fell 3/4 to 1 9/16 on more than 12,000
contracts.

In the resilient biotech group, Genzyme
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rose 4 to 68 1/8 while
the Genzyme September 65 calls rose 2 9/16 to 3 1/8 on more than 1500 contracts.

Qualcomm
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avoided Friday’s tech wreck and gained 3 5/8 to 66 1/4.
The QCOM October 70 calls rose 1 1/8 to 4 on more than 7000 contracts.

Xerox
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gained 1 7/8 to 17 7/8 while the Xerox October 20 calls rose
3/4 to 1 on more than 9000 contracts.