Lucent Calls Jump; Stocks Higher
New strength in telecom and optimism over oil prices have rallied stocks
Thursday, as the Dow, Nasdaq, and S&P 500 have each risen by more than 1.4%.
Telecom and biotechs are the strongest sectors of the day while integrated oils
and gold and silver are the weakest.
At mid-day, the VIX has decreased 1.12 to 26.24.
The OEX October 760 calls have added 5 1/4 to 22 1/4.
Among bigger movers on heavier-than-average volume:
Lucent
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PowerRating) has gained 3 1/16 to 31 15/16 as telecom comes back to life.
The Lucent October 30 calls are up 1 13/16 to 3 5/8 on triple the average
volume.
Also strong is Nortel Networks
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PowerRating), which has gained 2 1/16 to 61 11/16
despite receiving a downgrade. The Nortel October 65 calls have risen 5/8 to 3
1/8 on double the average volume.
Procter & Gamble
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PowerRating) has jumped 4 1/8 to 65 7/8 as defensive issues
perform well. The Procter & Gamble October 65 calls are up 1 3/8 to 2 7/16
on triple the average volume.
Palm
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PowerRating) has jumped 3 3/4 to 52 5/8 while the Palm October 50 puts
have fallen 2 3/8 to 2 3/4 on double the average volume.