SUNW Calls Rise; Nasdaq Fades

The Nasdaq is giving up some of Friday’s gains and is currently off by about
1.5%. Chemicals and biotechs are the day’s top sectors while oil services and
semiconductors are the weakest.

At mid-day, the VIX is down .21 to 30.77.

The OEX 740 calls are down 2 3/8 to 3.

Among bigger movers on heavier-than-average volume:

Sun Microsystems
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is holding up well and is trading up 2 1/2 to
113 1/2 while the Sun Micro October 115 calls are up 1 3/8 to 4 1/2 on more than
4000 contracts.

B2B PurchasePro
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is up 5 7/8 to 40 15/16 following an upgrade from
Prudential. The PurchasePro November 50 calls are up 2 3/8 to 3 1/8 on five
times the average volume.

Infospace
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is up 1 7/8 to 21 7/8 while the Infospace October 22
1/2 puts are off 3 3/4 to 2 1/8 on heavier-than-average volume.

Millennium Pharmaceuticals
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has gained 1 3/4 to 67 15/16 while the
MLNM October 67 1/2 calls added 3 1/8 to 3 5/8 on heavier-than-average volume.