Peoplesoft Calls Jump; IBM Hurts Dow
Earnings worries over IBM and J.P. Morgan have rattled the Dow Wednesday,
sending the average down 1.5%. The S&P 500 is off 0.6%, and the Nasdaq is
roughly flat.
At mid-day, the VIX is up .89 to 33.60.
The OEX October 710 calls are down 3 3/4 to 5.
Among bigger movers on heavier-than-average volume:
Peoplesoft
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PowerRating) has jumped 8 5/8 to 41 3/8 after beating earnings
estimates. The Peoplesoft October 40 calls are up 1 15/16 to 2 3/16 on more than
1200 contracts.
Chips have bounced, and one beneficiary is Micron
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PowerRating), which has added 1
1/16 to 30 1/16. The Micron October 30 puts have fallen 1 3/16 to 1 1/4 on more
than 10,000 contracts.
IBM
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PowerRating) has fallen 15 13/16 to 97 3/16 as earnings worries continue to
surface. The IBM October 110 puts have jumped 10 1/4 to 13 1/2 on more than 8000
contracts.
Intel
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PowerRating) has climbed back from morning lows and is up 2 1/2 to 38
11/16. The Intel October 35 calls are up 1 7/16 to 4 1/4 on more than 8000
contracts.