Lucent Calls Rise; Stocks Finish Mixed
Stocks gave up some early gains Tuesday following stronger-than-expected new
home sales numbers that suggested that the economy remains more resilient than
most analysts have expected. Broker/dealers and Internets were the day’s
top sectors while drugs and airlines were the weakest.
At the close, the VIX had increased .70 to 18.93.
The OEX September 820 calls fell 1/2 to 12 1/2.
Among bigger movers on heavier-than-average volume:
PowerRating) bounced back for the third-straight day from its recent low
and gained 1 15/16 to 44 11/16. The Lucent September 40 calls gained 1 3/4 to 5
on more than 6000 contracts.
Leading the broker/dealer group was DLJ
PowerRating), which soared 16 7/16 to 82
1/4 on takeover speculation. The DLJ September 65 calls rocketed 14 1/8 to 18
1/2 on quadruple average volume.
Looking ahead, the August Index of Leading Economic Indicators will be released
Wednesday at 10:00 AM ET, and analysts expect an increase of 0.1%