Palm Calls Rise; Nasdaq Remains Strong
A rise in third quarter productivity helped motivate the Nasdaq to a 2.9%
gain Thursday. Leading groups were biotechs and Internets, while the weakest
groups were oils and oil services.
At the close, the VIX had increased .08 to 26.64.
The OEX November 770 calls finished unchanged at 6 1/2.
Among bigger movers on heavier-than-average volume:
Palm
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PowerRating) jumped 4 7/16 to 59 after stressing that it would expand
into licensing and that it was more than just a hardware company. The Palm
November 55 calls rose 2 1/2 to 7 5/8 on more than 9000 contracts.
In the Internet arena, Terra/Lycos
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PowerRating) rose 1 13/16 to 24 13/16 as
the new entity traded under its new symbol for the third day. The TRLY November
25 calls gained 11/16 to 1 7/8.
Brocade
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PowerRating) rose 14 to 243 to continue it bounce from last weeks
pullback. The BRCD November 210 puts fell 4 to 2 3/8 on triple the average
volume.
AOL
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PowerRating) gained 2 to 54 while the AOL November 60 calls added .25 to .55
on more than 42,000 contracts.