SanDisk (SNDK) 11/2/09 PriceWatch Alert With Support Around $19.08

Posted: Monday, November 02, 2009 8:34 AM EDT

SanDisk (NasdaqNM: SNDK) ended the last trading session at $20.48. So far the stock has hit a 52-week low of $5.07 and 52-week high of $24.61. SanDisk stock has been showing support around 19.08 and resistance in the 23.14 range. Technical indicators for the stock are Bearish and S&P gives SNDK a neutral 3 STAR (out of 5) hold rating. SNDK appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 17 covered call (SWQ DI) for a net debit in the $15.43 area. That is also the break even stock price for this trade. This covered call has a 166 day duration, provides 24.66% downside protection and a 10.17% assigned return rate for a 22.37% annualized return rate (comparison purposes only). SanDisk does not pay dividends at this time. [ABR-Seven Summits Research]

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