Micron Calls Rise; Stocks Edge Higher
Blue chip stocks are moderately higher and the Nasdaq is flat Wednesday
following a reduction in the second quarter GDP number. Banking is the strongest
sector while oil services are the weakest.
At mid-day, the VIX is down .31 to 30.08.
The OEX December 740 calls are up 1 3/8 to 6 3/8.
Among bigger movers on heavier-than-average volume:
Micron
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PowerRating) is up 1 1/2 to 35 and is helping the SOX bounce off of recent
lows. The Micron December 40 calls are up 5/8 to 1 1/2 on more than 6000
contracts.
Exxon Mobil
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PowerRating) has fallen 3 3/8 to 89 11/16 following a fall in oil
prices. The XOM December 90 puts are up 1 1/4 to 2 on heavier-than-average
volume.
XO Communications
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PowerRating) is down 1 13/32 to 13 1/8 on a Goldman Sachs
downgrade. The XOXO December 20 puts are up 2 1/2 to 8 1/2 on more than 5000
contracts.
Ciena
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PowerRating) fell 10 7/8 to 73 3/16 on revenue worries while the Ciena
December 60 puts have risen 1 13/16 to 3 5/8 on more than 1400 contracts.