JDSU Puts Rise; Nasdaq Tanks
Analyst downgrades in the tech sector weighed heavily on the Nasdaq Thursday
as the average sank 4.3%. Banks were the day’s top sector while semiconductors
were the weakest.
At the close, the VIX was down .49 to 28.28.
The OEX November 730 calls finished down 6 5/8 to 1 3/8.
Among bigger movers on heavier-than-average volume:
JDS Uniphase
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PowerRating) fell 6 13/16 to 68 1/4 amid widespread weakness in
tech. The JDSU November 75 puts gained 4 7/16 to 6 5/8 on more than 12,000
contracts.
Gemstar
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PowerRating) added to early gains and finished up 2 17/64 to 48 7/16 after being added to Goldman
Sach’s recommended list. The GMST November 65 calls finished up 3/8 to 2 5/16 on
more than 10,000 contracts.
Nortel
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PowerRating) fell 2 15/16 to 34 7/16, a new 52-week low. The Nortel
December 30 puts gained 1 to 1 13/16 on more than 8000 contracts.
Citigroup
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PowerRating) rose 1 1/2 to 51 11/16 in a banking group that bounced from
recent lows. The Citigroup December 90 puts fell 1 1/2 to 4 1/8 on more than
11,000 contracts.