SanDisk (SNDK) 11/5/09 PriceWatch Alert Support At Around $20.11

Posted: Thursday, November 05, 2009 8:29 AM EDT

SanDisk (NasdaqNM: SNDK) closed yesterday at $20.49. 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 20.11 and resistance in the 21.09 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 16 covered call (SWQ DQ) for a net debit in the $14.94 area. That is also the break even stock price for this trade. This covered call has a 163 day duration, provides 27.09% downside protection and a 7.10% assigned return rate for a 15.89% annualized return rate (comparison purposes only). SanDisk does not pay dividends at this time. [THA-Seven Summits Research]

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