JNJ Calls Rise; Stocks Sink
- March 28, 2001
- Daniel Beighley
Stocks have resumed their downward trend Wednesday on the heels of an
earnings warning from Nortel. Japanese stocks are the only bright spot of the
day while Internets are the hardest hit area.
At mid-day, the VIX is up 2.74 to 33.43.
Johnson & Johnson
PowerRating) is up 2.14 to 85.39 while the JNJ April 80
calls have gained 1.40 to 6.60 on more than 10,000 contracts.
PowerRating) is down 1.26 to 31.02 while the Hewlett Packard May
35 calls have eased .45 to 1.65 on heavier-than-average volume.
In the chips, Applied Materials
PowerRating) has lost 1 3/4 to 49 1/8 while
the AMAT May 47 1/2 puts have gained 3/8 to 4 7/8 on more than 2700 contracts.