Micron Calls Rise; Nasdaq Posts Gain

The Nasdaq managed to battle back from an early-morning selloff to end the
day 1.2% higher. Biotechs and airlines were the day’s top sectors while banks
and oil services were the weakest.

At the clsoe, the VIX had increased .25 to 21.43.

The OEX September 810 calls ended down 7/8 to 1 3/4.

Among bigger movers on heavier-than-average volume:

Micron
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helped offset some of the damage in the SOX with a gain of 2
7/8 to 66 3/16. The Micron September 65 calls rose 1 1/8 to 2 5/16 on more than
6000 contracts.

Oracle
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gained 2 7/16 to 81 13/16 to help the Nasdaq bounce from
its recent declines. The Oracle October 80 calls added 2 1/4 to 8 3/8 on more
than 11,000 contracts.

Schwab
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saw call volume surge on its October 37 1/2 calls which fell
7/8 to 1 3/4 on more than 24,000 contracts. For the day, Schwab slipped 5/16 to
37 3/16.

Conexant
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jumped 3 5/16 to 37 1/16 while the Conexant September 35
calls rose 2 3/16 to 2 3/4 on more than 4000 contracts.