SUNW Calls Rise; Stocks Shine
Stocks soared Thursday following predominately better-than-expected earnings
announcements and market-friendly testimony from Alan Greenspan on Capital Hill.
Internets and software were the strongest sectors while gold and silver and
drugs were the weakest.
By the close, the VIX had decreased .46 to 22.06.
The OEX 810 calls finished up 3 1/8 to 6 5/8.
Among bigger movers on heavier-than-average volume:
Prior to its better-than-expected earnings announcement after the bell, Sun
Microsystems
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PowerRating) rose 4 1/8 to 98 1/16. The SUNW July 100 calls gained 1
1/8 to 1 7/16 on more than 16,000 contracts.
IBM
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PowerRating) posted better-than-expected earnings and that sent IBM up 3 1/4
to 112. The IBM July 115 calls rose 2 1/8 to 2 3/8 on more than 13,000
contracts.
JDS Uniphase
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PowerRating) added to early gains and closed up 21 3/8 to 128 1/8
on news it will be added to the S&P 500 on July 26. The JDSU Aug 125 calls
soared 5 to 5 1/8 on heavier-than-average volume.
Extreme Networks
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PowerRating) soared 32 1/4 to 148 1/4 while the Extreme
Networks July 135 calls leaped 11 7/8 to 12 3/4 on quadruple the average volume.