SINA (SINA) NewsBite - SINA Initiated with Bullish Call

Posted on Monday, May 12, 2008 12:45 PM

SINA Corp. (SINA) opened at 48.23. So far today, the stock has hit a low of 47.75 and a high of 51.90. SINA is now trading at 50.51, up 2.51 (5.20%). The stock hit its 52 week high of 59.27 in October and set its 52 week low of 32.00 in March. SINA fell between November and March, but has been stronger for the past few months. SINA shares have been soaring on news that the stock was initiated with a bullish call on expectations for positive earnings. Technical indicators for the stock are bullish and steady. If you’re looking for a hedged play on this stock, consider a May bull-put credit spread below the $45 range. SINA stock could fall up to 10.9% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]