Nokia Puts Soar; Stocks Slip
A stronger-than-expected increase in June’s durable goods orders is helping
to weigh on stocks Thursday with the Nasdaq getting hit the hardest.
Semiconductors and Internets are the weakest sectors while oil services and
insurance are the strongest.
At mid-day, the VIX has increased .03 to 22.78.
The OEX August 800 calls are up .03 to 22.78.
Among bigger movers on heavier-than-average volume:
Nokia
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PowerRating) is down 13 to 42 13/16 after issuing an earnings warning. The
Nokia August 55 puts have jumped 8 5/8 to 12 on quadruple average volume.
WorldCom
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PowerRating) is also under pressure and has fallen 5 1/8 to 39 5/8.
The WCOM August 40 puts are up 1 5/8 to 2 1/8 on more than 4500 contracts.
In the chip arena, Texas Instruments
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PowerRating) has dipped 5 5/8 to 58 7/16
while the Texas Instruments August 75 puts have soared 5 1/2 to 18 1/8 on more
than 4000 contracts.
Qualcomm
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PowerRating) is also showing weakness, losing 2 1/4 to 66 7/16. The
Qualcomm August 70 calls are down 1 1/8 to 3 3/8 on more than 5000 contracts.