Microsoft Calls Jump; Stocks Rally
Stocks are higher Wednesday following some better-than-expected earnings from
Compaq. The Nasdaq is even flirting with the 2900 level. Leading sectors of the
day include Internets and broker/dealers while gold and silver is the weakest.
At mid-day, the VIX has increased 1.02 to 24.88.
The OEX February 740 calls are up 1.70 to 6.30.
Among bigger movers on heavier-than-average volume:
Microsoft
(
MSFT |
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PowerRating) has gained 2 1/2 to 63 1/16, its highest level since
Nov. 29. The MSFT February 60 calls have added 1 3/8 to 4 5/8 on more than
10,000 contracts.
AOL Time Warner
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AOL |
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PowerRating) has gained 2.40 to 56.55 after announcing more than
2000 layoffs. The AOL February 60 calls have gained .50 to 1.45 on more than
3600 contracts.
Amazon
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AMZN |
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PowerRating) has jumped 2 51/64 to 21 3/4 in a strong Net group while
the AMZN March 22 1/2 calls have gained 7/8 to 2 3/4 on more than 4000
contracts.
AT&T
(
T |
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Chart |
News |
PowerRating) has risen 3/4 to 24 1/16 while the Telephone February 22 1/2
calls have added 1/2 to 2 3/16 on more than 5000 contracts.