Phillip Morris Calls Rise; Nasdaq Collapses
Techs have again tumbled Wednesday as the Nasdaq sheds another 4.6% following
a slew of downgrades. Gold and silver is the strongest sector while Internets
are the weakest.
At mid-day, the VIX has increased 2.52 to 33.25.
The OEX January 740 calls are down 1.20 to 2.40.
Among bigger movers on heavier-than-average volume:
Phillip Morris
(
MO |
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PowerRating) is up 9/16 to 43 5/8, its highest level of the year.
The Phillip Morris January 40 calls are up 5/8 to 4 5/8 on heavier-than-average
volume.
Applied Micro Circuits
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PowerRating) is up 2 5/16 to 63 7/8 after news the
company will join the S&P 500. The AMCC January 50 calls are up 4 1/8 to 19
1/8 on more than 9000 contracts.
BEA Systems
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PowerRating) has fallen 11 1/16 to 58 5/16 while the BEAS January
65 puts have jumped 5 to 11 on more than 5000 contracts.
Cisco
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PowerRating) has lost 4 1/4 to 37 1/2 while the Cisco January 40 calls
have fallen 2 3/8 to 3 1/4 on more than 4000 contracts.