Yahoo! Puts Jump; Nasdaq Swoons
Stocks remained under pressure Wednesday, with the Nasdaq falling 2.2% and
again taking the brunt of the damage. Top-performing groups were forest and
paper products and oil services while the weakest groups were Internets and
telecom.
At the close, the VIX had risen 3.51 to 30.95.
The OEX 740 calls fell 4 1/2 to 6 1/4.
Among bigger movers on heavier-than-average volume:
Yahoo!
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PowerRating) fell 17 5/16 to 65 3/8 following a cautionary conference
call on Tuesday. The Yahoo! November 75 puts jumped 6 1/2 to 13 1/4 on more than
8000 contracts.
Verisign
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PowerRating) fell 19 3/4 to 157 5/8 as Internets remained under fire.
The VRSN October 185 calls fell 6 5/8 to 3 3/8 on quadruple the average volume.
Lucent
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PowerRating) was one of the day’s big losers, falling 10 1/8 to 21 1/4. The
Lucent April 30 01 calls fell 5 to 1 3/4 on more than 19,000 contracts.
Qualcomm
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PowerRating) fell 9 3/16 to 70 1/2 while the Qualcomm October 80
calls lost 2 7/16 to 1 7/16 on more than 7000 contracts.