Intel Calls Rise; Stocks Move Higher
The Nasdaq reversed from a negative open Wednesday and ratcheted higher into
the close for a 1.3% gain. Oil services and Internets were the top sectors of
the day while airlines and transportations were the weakest.
At the close, the VIX had increased .26 to 19.88.
The OEX September 820 calls finished up 3/4 to 16 1/2.
Among bigger movers on heavier than average volume:
Intel
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PowerRating) worked its way to an all-time high, rising 2 1/2 to 74 5/8.
The Intel September 75 calls rose 7/8 to 2 3/4 on more than 8000 contracts.
Intuit
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PowerRating) added to early gains and finished up 8 9/16 to 54 5/8
after posting better-than-expected earnings. The Intuit September 50 calls rose
4 3/8 to 6 1/2 on nearly 3000 contracts.
CMGI
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PowerRating) rose 6 3/16 to 43 15/16 partly on news the company would
become the sponsor of the New England Patriot’s football stadium. The CMGI
September 45 calls added 2 3/16 to 3 1/8 on five times the average volume.
Exxon Mobil
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PowerRating) gained 1 3/8 to 84 1/2 in a strong oil group. The Exxon
Mobil September 85 calls gained 1/2 to 1 7/8 on more than 4000 contracts.