Yahoo Calls Rise; Nasdaq Cuts Losses
Techs averted a meltdown Monday as they cut a big mid-day swoon to just a
0.9% loss by the close. Oil services were the day’s top sector while retailers
were the weakest.
At the close, the VIX had increased 1.04 to 32.56.
The OEX January 700 calls ended up .70 to 16.00.
Among bigger movers on heavier-than-average volume:
Select Internets moved higher, with Yahoo
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YHOO |
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PowerRating) rising 1 5/8 to 31 3/16
on news that its online sales surged during the holiday season. The Yahoo
January 30 calls gained 1 13/16 to 4 1/4 on more than 8000 contracts.
IBM
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PowerRating) fell 4 3/16 to 84 13/16 to serve as one of the Dow’s dogs of
the day. The IBM January 95 puts rose 3 1/4 to 12 1/4 on more than 8000
contracts.
Corning
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PowerRating) fell 15/16 to 55 5/16 while the GLW January 55 puts eased 1
1/2 to 6 on more than 6000 contracts.
Applied Micro Circuits
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PowerRating) fell 1/8 to 65 9/16 while the AMCC January
50 calls added 7 7/8 to 18 on more than 6000 contracts.