Palm Calls Rise; Stocks Bounce

Stocks are enjoying a solid post-holiday bounce Friday, with the Nasdaq
leading the way with a greater than 4% increase. Internets are the top sector
while gold and silver are the weakest sector.

At mid-day, the VIX has increased .71 to 30.47.

The OEX 735 calls are up 2 5/8 to 8 3/8.

Among bigger movers on heavier-than-average volume:

Palm
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has increased 4 1/4 to 45 as techs see a bounce back from
Wednesday’s swoon. The Palm December 50 calls are up 13/16 to 2 1/4 on more than
2000 contracts.

Flextronics
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has gained 1 13/16 to 28 7/16 while the FLEX December
30 puts have fallen 1 1/4 to 4 1/4 on more than 3000 contracts.

America Online
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is up 1.16 to 42.24 as Internets rebound. The AOL
December 45 puts are down .60 to 4.40 on more than 5000 contracts.

Microsoft
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is up 1 3/4 to 70 while the Microsoft December 75 calls
are up 3/8 to 1 1/4 on more than 8000 contracts.