Oracle Calls Rise; Nasdaq Reverses
The Nasdaq staged a stunning late session rally that took it up 1.4% by the
close. Semiconductors were the top sector while airlines were the weakest.
At the close, the VIX had shown an increase of just .03 to 31.03. It had
traded as high as 34.22 before reversing.
Among bigger movers on heavier-than-average volume:
Oracle
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ORCL |
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PowerRating) jumped 2 3/8 to 21 3/8 and was one of the top tech leaders
in the reversal. The Oracle March 20 calls gained 1 1/16 to 2 11/16 on more than
10,000 contracts.
Applied Micro Circuits
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AMCC |
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PowerRating) jumped 2 13/16 to 29 9/16 despite issuing
an earnings warning. The AMCC March 35 puts fell 2 1/4 to 6 7/8 on
heavier-than-average volume.
IBM
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PowerRating) rose 6.15 to 106.05 on positive comments from Smith Barney. The
IBM Narch 105 outs fell 3.50 to 3/90 on more than 9000 contracts.
Fannie Mae
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FNM |
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PowerRating) rose 1.90 to 81.60 while the FNM March 80 calls added
1.45 to 3.20 on heavier-than-average volume.