Nortel Puts Soar; Nasdaq Lower
A revenue shortfall from Nortel continues to weigh on Nasdaq stocks
Wednesday, as the tech-heavy average has fallen 3%. The top sectors of the day
are health care and banks while telecom and semiconductors are the weakest.
At mid-day, the VIX has increased 1.32 to 28.15.
The OEX 740 calls are down 2 3/4 to 14 1/2.
Among bigger movers on heavier-than-average volume:
Nortel Networks
(
NT |
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PowerRating) is off 15 7/16 to 47 7/8 following a revenue
shortfall. The Nortel November 55 puts are up 6 3/8 to 9 3/8 on more than 7000
contracts.
Advanced Micro Circuits
(
AMCC |
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PowerRating) is down 46 to 152 5/16 in sympathy with
Nortel. The AMCC November 150 puts are up 11 3/4 to 14 5/8 on more than five
times the average volume.
Affymetrix
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PowerRating) is up 17 11/16 to 70 in a strong biotech group. The
AFFX November 60 calls are up 9 3/8 to 12 3/8 on more than triple the average
volume.
Computer Associates
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CA |
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PowerRating) is up 1 7/16 to 28 1/8 while the Computer
Associates November 22 1/2 calls are down 3/8 to 3 7/8 on more than 15,000
contracts.