Toronto Dominion Bank (TD) NewsBite - Trading With Unusual Volume

Posted: Monday, October 20, 2008 3:39 PM EDT

Toronto Dominion Bank (TD) appears to be trading at a higher than usual volume today and is now at $49.21, up $1.15 (2.39%) on volume of 1,727,334 shares traded. For the last 30 days TD has traded 1,342,207 shares on average each day. So far today's volume is 28.69% above that average volume. Over the last 52 weeks the stock has ranged from a low of $41.93 to a high of $75.57. Toronto Dominion Bank stock has been showing support around $44.51 and resistance in the $51.83 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for TD. If you are looking for a hedged play on TD the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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