Microsoft Calls Rise; Nasdaq Surges
Semiconductors bounced back Thursday, leading a Nasdaq rally that took the average 2.5% higher by the close. The Dow finished flat while the S&P
500 added 0.7% for the day.
By the close, the VIX had increased .48 to 24.11.
The OEX July 790 calls ended the day up 1 3/4 to 14.
Among bigger movers on heavier-than-average volume:
Microsoft
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PowerRating) lifted 2 7/16 to 80 15/16 in a strong software group.
The Microsoft July 85 calls rose 1/2 to 1 1/8 on more than 18,000 contracts.
Cisco Systems
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PowerRating) added 2 7/8 to 64 3/4 to join many of the rejuvenated
big-cap techs. The Cisco July 65 calls gained 7/8 to 2 1/8 on triple the average
volume.
Merrill Lynch
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PowerRating) was bullish, gaining 6 to 124 as the Merrill Lynch
July 130 calls added 2 to 2 3/4 on more than 10 times the average volume.
America Online
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PowerRating) rose 1 9/16 to 56 1/8 while the AOL August 60 calls
gained 7/16 to 2 1/2 on five times the average volume.
Looking ahead, the much anticipated June employment report will be released at 8:30 AM ET on Friday.
Estimates look for 286,000 new jobs created, a 4.0% unemployment rate, and a 0.4% increase in average hourly earnings.