Motorola Puts Rise; Stocks Shine

The Nasdaq reversed its two-day slide to post a 1.7% gain Monday just a day
ahead of the Federal Reserve meeting. The Dow and Nasdaq were also higher, as
consumer stocks and financials posted solid gains.

By the close, the VIX had decreased 1.54 to 24.35.

The OEX July 790 calls finished up 2 3/4 to 19 3/4.

Among bigger movers on heavier-than-average volume:

Motorola
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fell 2 3/8 to 30 after an analyst downgrade. The Motorola
July 31 5/8 puts rose 1 1/8 to 2 7/8 on 4600 contracts.

Johnson & Johnson
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was one of the biggest Dow winners of the
day, rising 5 3/4 to 95 1/2. The Johnson & Johnson July 95 calls rose 2 1/4
to 3 on quadruple average volume.

Akamai
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was one of the top techs of the day, adding 16 3/4 to 119
1/4. The July 120 calls rose 6 1/2 to 10 3/4 on double average volume.

US West
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gained 1 9/32 to 90 3/8 on news that the FCC had given
final approval on US West’s merger with Qwest. The US West July 95 calls rose 1
1/4 to 3 5/8 on more than 5500 shares.

All eyes now turn toward the Fed, which meets Tuesday.

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