Microsoft Calls Active; Dow Nears 11K
The Dow is leading a pre-election rally and is up 1.5%, and the S&P 500
and the Nasdaq are also positive. Insurance and drugs are the top sectors while
broker/dealers and oil services are the weakest.
At mid-day, the VIX is up .25 to 26.56.
The OEX November 780 calls are up 1/2 to 3 3/4.
Among bigger movers on heavier-than-average volume:
Microsoft
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PowerRating) has gained 1 9/16 to 69 13/16 while the Microsoft
November 70 calls are up 3/4 to 2 on more than 6000 contracts.
Bristol Myers Squibb
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PowerRating) has added 3/8 to 62 5/16 as strength has
returned to the drug sector. The BMY December 60 calls are up 1/4 to 4 3/4 on
more than 5000 contracts.
Cisco
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PowerRating) is up 1 5/8 to 69 7/8 ahead of its earnings announcement
after the bell. The Cisco November 60 calls have eased 3/16 to 1 11/16 on heavy
volume of more than 10,000 contracts.
Applied Micro Circuits
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PowerRating) has bounced from its recent plunge and is
up 7 1/4 to 79 1/4. The AMCC November 85 calls have added 2 1/8 to 4 on more
than double average volume.