Microsoft Calls Rise; Stocks Edge Higher
Stocks are marginally higher Monday following an existing home sales report
that showed an annual rate of 4.65 million homes sold, which was less than the 5
million analysts expected. Biotechs are the day’s top sector while
semiconductors are the weakest.
At mid-day, the VIX is down 1.21 to 29.13.
The OEX March 670 calls are up .20 to 5.5.
Microsoft
(
MSFT |
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PowerRating) is up 2 3/8 as it heads to court regarding its appeal.
The MSFT March 60 calls are up 2 3/8 to 59 1/8 on more than 11,000 contracts.
Biotechs are bouncing, and that has helped Abgenix
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ABGX |
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PowerRating) rise 3 13/16
to 34 1/8. The ABGX March 30 calls have added 3 7/8 to 6 3/4 on more than 1000
contracts.
Proctor and Gamble
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PG |
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PowerRating) has fallen 4.63 to 70.40 on a lowered earnings
outlook. The PG March 70 puts have jumped 3.15 to 5 on the news on more than
triple the average contract volume.
Broadcom
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BRCM |
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News |
PowerRating) is off 6 1/8 to 63 5/16 while the BRCM March 70 calls
have lost 2 3/4 to 3 on more than 3600 contracts.