JDSU Calls Slip; Stocks Sink
Stocks sank Wednesday as buyers retreated to the sidelines amid concerns about interest rates and the ongiong earnings season. Oil services were the top-performing sector, while banks and semiconductors were the weakest.
At the close, the VIX had increased .60 to 22.70.
The OEX 800 calls fell 3 3/8 to 11 3/4.
Among bigger movers on heavier-than-expected volume:
Ahead of being added to the S&P 500, JDS Uniphase
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PowerRating) rose 5 3/4 to 135 15/16. The JDSU Aug 140 calls slipped 2 1/4 to 6 3/4 on more than 14,000 contracts.
LSI Logic
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PowerRating) plunged 8 to 32 1/2 to lead the carnage in the chip sector. The LSI August 50 puts soared 12 to 17 1/4 on triple the average volume.
America Online
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PowerRating) lost 1 7/8 to 53 5/8 as weakness in the Net giant continued. The AOL October 55 puts rose 1 to 5 3/8 on more than 11,000 contracts.
Ask Jeeves
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PowerRating) jumped 4 7/16 to 21 7/16 and was one of the top Net performers of the day. The ASKJ August 22 1/2 calls added 1 7/16 to 2 1/16 on six times average volume.