Yahoo! Calls Sink; Stocks Higher
A rise from 4.0% to 4.1% in the unemployment rate has moved stocks higher
Friday as the market celebrates what appears to be a slowing economy. Oils and
retailers are the top sectors of the day while airlines and forest and paper
products are the weakest.
At mid-day, the VIX has decreased .20 to 19.08.
The OEX September 830 calls are up 2 1/8 to 12 5/8.
Among bigger movers on heavier-than-average volume:
Yahoo!
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PowerRating) is off 7 to 114 1/2 following a news article describing a
slowdown in advertising spending on the Internet. The Yahoo! September 120 calls
are down 3 1/4 to 3 1/8 on more than 3500 contracts.
Verisign
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PowerRating) has pulled back 9 5/8 to 189 1/4 after a multi-week run.
The Verisign September 185 puts have gained 4 to 6 3/4 on quadruple the average
volume.
J.P. Morgan
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PowerRating) is down 5 1/8 to 161 1/8 following its recent run. The
J.P. Morgan September 165 calls are down 3 5/8 to 3 7/8 on double average
volume.
Global Crossing
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PowerRating) is up 3 3/8 to 33 7/16 after saying it expects to
top recent earnings estimates in upcoming quarters. The GBLX September 30 calls
are up 2 1/4 to 4 on double the average volume.