JDSU Puts Jump; Nasdaq Plunges
Uncertainty surrounding the Presidential election spooked the Nasdaq into a
5.4% plunge Wednesday, as networking stocks, Internets and semiconductors led
the collapse. Oil services, health care, and drugs were the sectors that
performed best and avoided the selloff.
At the close, the VIX had increased 1.50 to 28.31.
The OEX November 770 calls finished down 4 7/8 to 2 1/2.
Among bigger movers on heavier-than-average volume:
JDS Uniphase
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PowerRating) was one of the recent tech leaders under pressure as
it fell 5 5/8 to 68 1/2. The JDSU November 75 puts jumped 3 1/2 to 8 3/8 on more
than 14,000 contracts.
PMC Sierra
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PowerRating) added to early losses and finished down 19 3/16 to 108
11/16. The PMCS November 100 puts soared 3 7/8 to 5 1/8 on five times the
average volume.
Broadcom
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PowerRating) added to early losses and finished down 24 11/16 to 151
13/16 while the BRCM November 180 calls sank 8 to 3 1/4 on more than 1200
contracts.
Microsoft
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PowerRating) fell 1 1/16 to 69 7/16 while the Microsoft November 70
calls slid 7/16 to2 1/8 on more than 20,000 contracts.