Micron Puts Jump; Stocks Mixed
A downgrade of Micron is weighing on the semiconductor sector Wednesday, and
that has helped pull the Nasdaq down 1.5%. The Dow, however, is higher on a
surge in J.P. Morgan on news of a possible buyout.
At mid-day, the VIX is up .79 to 22.16.
The OEX September 820 calls are down 2 1/2 to 12.
Among bigger movers on heavier-than-average volume:
Micron
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PowerRating) has fallen 8 3/16 to 70 3/8 following a downgrade. The Micron
September 70 puts have jumped 2 1/4 to 3 1/8 on more than quadruple the average
volume.
Qualcomm
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PowerRating) is bucking the downward drift in technology with a 3 5/8
gain to 63. The Qualcomm September 60 calls have risen 1 3/4 to 4 on triple the
average volume.
E*Trade
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PowerRating) has added 1 5/16 to 19 3/8 following an analyst upgrade.
The E*Trade September 17 1/2 calls have gained 7/8 to 3 on quadruple the average
volume.
B2Bs are giving back some of the past few days’ gains, with Commerce One
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PowerRating)
easing 3 7/8 to 65 3/8. The Commerce One September 70 calls have fallen 2 to 2
3/8 on nearly 3000 contracts.