[Opening Put Position on Sandisk (SNDK)]
Dear Member:
Sandisk Corp. (SNDK) along with the Semiconductor Memory Chip sector in general is downtrending. I like the Jul 45 puts (SWFSI) that are a couple of dollars in the money at $6.40 or better for the day. My intent is to enter a relatively small partial position. Exit would be on a break above the downtrend line that began in October. I would consider adding to the position if the stock breaks below $42.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft
|
