Lucent Puts Rise; Market Mixed
Stocks are mixed Thursday following Wednesday’s tech drubbing that was
triggered by a semiconductor sector downgrade by Salomon Smith Barney. Also
weighing slightly on stocks are yet more reports of strength in the economy.
Factory orders for May posted a 4.1% increase, topping the 3.7% increase
analysts expected.
At mid-day, the VIX has increased .89 to 24.48.
The OEX 770 puts are up 5/8 to 8 1/8.
Among bigger movers on heavier-than-average volume:
Lucent
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PowerRating) is under pressure, falling 2 5/8 to 53 7/8. The Lucent
July 60 puts have added 2 1/8 to 6 5/8 on more than 24,000 contracts.
National Semi
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PowerRating) is down 1 11/16 to 48 1/4 and is still weak following
Wednesday’s plunge. The National Semi July 55 puts have gained 1 7/8 to 8 on
more than 15,000 contracts.
JDS Uniphase
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PowerRating) is off 7 1/2 to 111 1/2 while the JDS Uniphase Sept
110 calls have sunk 6 1/8 to 16 3/8 on 10 times the average volume.
Biomet
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PowerRating) is up 3 1/4 to 41 1/4 after topping earnings estimates and
announcing a 3-for-2 stocks split. The Biomet July 40 calls are up 1 7/8 to 2
7/8 on triple average volume.
Looking ahead, the much anticipated June employment report will be released
at 8:30 AM ET on Friday.