Yahoo! Calls Plunge; Nasdaq Bounces
The Lucent earnings warning continues to weigh on stocks Wednesday, as the
Nasdaq is currently down 2.4% and the Dow is off 0.8%. Telecom and Internets are the day’s biggest
losers while forest and paper products and integrated oils are the day’s biggest
gainers.
At mid-day, the VIX is up 4.02 to 31.46.
The OEX October 740 calls are down 4 1/4 to 6 1/2.
Among bigger gainers on heavier-than-average volume:
Yahoo!
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PowerRating) is down 14 to 68 11/16 following a cautionary
post-earnings conference call. The Yahoo! October 70 calls have plunged 11 to 4
5/8 on more than 5000 contracts.
Lucent
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PowerRating) has fallen 9 3/4 to 21 5/8 while the Lucent October 30 puts
have jumped 6 15/16 to 7 1/2 on more than 6000 contracts.
America Online
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PowerRating) received a go-ahead from the EU regarding its
proposed merger with Time-Warner, but AOL is down 3.59 to 53.65 despite the
news.
RF Micro Devices
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PowerRating) has fallen 2 5/8 to 25 5/16 while the RFMD
October 25 puts have vaulted 1 1/4 to 2 3/4 on more than 5000 contracts.