SanDisk (SNDK) 11/3/09 PriceWatch Alert Technicals Showing Bullish

Posted: Tuesday, November 03, 2009 8:26 AM EDT

SanDisk (NasdaqNM: SNDK) closed yesterday at $20.86. 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 19.85 and resistance in the 21.87 range. Technical indicators for the stock are Bullish 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 $15.81 area. That is also the break even stock price for this trade. This covered call has a 165 day duration, provides 24.21% downside protection and a 7.53% assigned return rate for a 16.65% annualized return rate (comparison purposes only). SanDisk does not pay dividends at this time. [ATU-Seven Summits Research]

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