WorldCom Calls Rise; Stocks Rally
Stocks are solidly higher despite a stronger-than-expected consumer
confidence report that made an inter-meeting Fed rate cut seem unlikely. Telecom
is the day’s top sector while oil service stocks are the weakest.
At mid-day, the VIX is down 1.38 to 31.81.
Among bigger movers on heavier-than-average volume:
WorldCom
(
WCOM |
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PowerRating) has risen 15/16 to 18 15/16 to lead the telecom sector.
The WCOM April 17.5 calls have added 9/16 to 2 1/8 on more than 9000 contracts.
America Online
(
AOL |
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PowerRating) has gained 1.41 to 42.30 while the AOL April 40 puts
have fallen .65 to 1.55 on more than 8000 contracts.
Brocade
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BRCD |
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PowerRating) has lost 1.13 to 25.47 while the Brocade April 25 calls
have added .50 to 3.00 on more than 15,000 contracts.