MSFT Calls Slip; Techs Fall
The Nasdaq took it on the chin Wednesday, as technology stocks faced selling
pressure following an earnings warning from Compaq. Drugs were the day’s top
sector while semiconductors were the weakest.
At the close, the VIX had decreased 1.41 to 26.87.
The OEX December 730 calls are down 5 to 6.50.
Among bigger movers on heavier-than-average volume:’
Microsoft
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PowerRating) was one of the big cap techs that suffered the least,
as it eased 1 1/8 to 57 1/4. The Microsoft December 60 calls slipped 11/16 to
7/16 on more than 9000 contracts.
Ballard Power
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PowerRating) fell 10 7/16 to 70 1/16 while the Ballard December
75 puts rose 5 1/4 to 6 on more than triple average volume.
Cisco
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PowerRating) took a hit, falling 3 1/4 to 51 1/8. The Cisco December 55
calls fell 7/8 to 1/4 on more than 12,000 contracts.
Phillip Morris
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PowerRating) gained 1 15/16 to 40 13/16 while the MO March 01 40
puts fell 1 to 3 on more than 7000 contracts.