Afraid Yet? Options Measures Say Fear Hasn't Swelled

The velocity of the stock market's decline in the past two sessions and the dire condition of the Nasdaq Composite Index have investors wondering about the short-term future of the tech-laden index.

Jay Shartsis, the options strategist at R.F. Lafferty in New York, is wondering, too. "The question is: Will the Nasdaq hold above zero?" His wisecrack came in the minutes after the close of trading that brought the Nasdaq down 129 points to accompany the Dow on its 436-point drop. ...