Rambus Calls Fly; Stocks Slump
Despite a favorable new homes report that was lower-than-expected, stocks
have slumped in Friday trading. Weakness in the banking sector is helping take
blue chips lower, and the Dow has slipped 130 points into the red.
At mid-day, the VIX has increased .77 to 23.95.
The OEX 795 calls are down 3 3/8 to 1 3/4.
Among bigger movers on heavier-than-average volume:
PowerRating) has jumped 27 to 83 11/16 after splitting 4-for-1 and
receiving an analyst upgrade. The Rambus June 62 1/2 call have risen 23 1/4 to
23 1/2 on more than 4500 contracts.
Earnings warnings and interest rate worries have hit the banks hard, and Bank
PowerRating) is off 3 7/16 to 48 1/2. The Bank of America July 50 puts
have jumped 1 3/8 to 3 1/8 on more than 18,000 contracts.