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:
Advanced Micro Circuits
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.