Intel Calls Plunge; Stocks Stabilizing
The Nasdaq has bounced back somewhat from the Intel-inspired plunge Friday
and is currently down about 3%. Drugs and biotechs are the top performers of the
day while semis are the weakest.
At mid-day, the VIX has increased 2.62 to 26.18.
The OEX October 800 calls are down 4 to 5 3/4.
Among bigger movers on heavier-than-average volume:
Intel
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PowerRating) is off 12 1/2 to 48 63/64 following its after-the-bell
Thursday warning. The Intel October 50 calls are down 9 to 3 on more than 14,000
contracts.
Also weak in the chips is Micron
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PowerRating), which is down 2 3/8 to 52 3/4. The
Micron October 65 puts have jumped 4 7/8 to 12 1/8 on more than 20,000
contracts.
Dell Computer
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PowerRating) is feeling some of the Intel fallout and is off 3
1/4 to 34 9/16. The Dell October 35 calls are down 1 13/16 to 2 1/16 on double
average volume.
Strong in the biotechs is Human Genome Sciences
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PowerRating), which has added
15 13/16 to 170. The HGSI October 170 calls are up 5 7/8 to 14 on quadruple the
average volume.