Yahoo! Puts Jump; Stocks Continue Upward
Stocks quietly continued upward with their August rally which has helped move
the Dow back to levels not seen since April 12. Broker/dealers and oil services
were the day’s
top sectors while gold and silver and biotechs were the weakest.
At the close, the VIX had decreased .87 to 18.23.
The OEX September 810 calls added 5 3/4 to 41 1/4.
Among bigger movers on heavier-than-average volume:
Yahoo!
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PowerRating) added to early losses and fell 12 3/16 to 122 1/16 by the
close after some negative analyst comments. The Yahoo! September 120 puts gained
3 1/2 to 4 7/8 on quadruple the average volume.
Oracle
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PowerRating) gave back some early gains, but still finished up 2 1/8 to
86 3/4. The Oracle September 80 calls gained 1 1/2 to 8 7/8 on more than 6000
contracts.
Rare Medium
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PowerRating) gained 2 5/8 to 12 1/8 while the Rare Medium
September 10 calls added 1 9/16 to 2 5/16 on quadruple the average volume.
Silicon Storage Technology
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PowerRating) rose 3 5/16 to 31 13/16 after
splitting 2-for-1 before the open. The SSTI September 30 calls gained 2 to 3 1/8
on double the average volume.
Looking ahead, the consumer confidence numbers for August and the new home sales for July will be released on Tuesday at 10:00 AM ET. Street estimates look
for a 141.7 reading in consumer confidence and 837,000 new home sales.