Sun Calls Shine; Nasdaq Rallies
Tech stocks rallied Thursday on better-than-expected earnings from IBM, and
the Nasdaq managed to post a 3.2% gain. Semiconductors were the day’s top sector
while oil services were the weakest.
At the close, the VIX had decreased 1.28 to 27.23.
The OEX January 700 calls ended up 3.20 to 5.70.
Among bigger movers on heavier-than-average volume:
Sun Micro
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PowerRating) gained 2 1/2 to 34 7/8 ahead of its earnings report.
The SUNW January 33 3/4 calls gained 1 5/16 to 1 15/16 on more than 20,000
contracts.
IBM
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PowerRating) jumped 11 5/8 to 108 5/16 after posting better-than-expected
earnings. The IBM January 105 calls rose 3 3/8 to 4 on more than 5000 contracts.
Brocade
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PowerRating) rose 5 9/16 to 103 while the Brocade January 100 calls
added 2 to 3 3/8 on more than 10,000 contracts.
Micron
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PowerRating) helped fuel the rally in the SOX with its 5 3/16 point gain to
44 7/16. The Micron January 42 1/2 calls rose 1 15/16 to 2 1/8 on more than 1000
contracts.