JNJ Calls Rise; Stocks Sink
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
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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.
Hewlett Packard
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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
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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.