Yahoo! Puts Rise; Stocks Weaken
Stocks finished weak and mixed Monday, with the Dow positive and the Nasdaq
and S&P 500 negative. Cyclicals and forest and paper products are the top
sectors of the day while software and Internets were the weakest.
By the close, the VIX had increased 1.05 to 22.87.
The OEX July 810 calls ended down 2 1/4 to 6 3/4.
Among bigger movers on heavier-than-average volume:
A day ahead of its earnings announcement, portal giant Yahoo!
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slipped 6 1/2 to 110. The Yahoo! July 105 puts rose 2 to 5 1/4 on five times the
average volume.
Biotech stock Genzyme
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hard-charging biotech group. The Genzyme July 70 calls have risen 1 15/16 to 3
on heavier-than-average volume.
Adobe Software
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calls lost 1 3/8 to 4 1/4 on more than 9400 contracts.
Also in the software arena, PeopleSoft
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following last week’s analyst upgrade. The PeopleSoft July 20 calls rose 9/16 to
1 1/8 on more than 10 times the average volume.
Looking ahead, the next big round of economic news will be out on Friday when
the Industrial Production, Producer Price Index, and retail sales numbers will all be released.