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Put Options On The High Flying Stock "Sandisk" Are Difficult To Play

I have ignored this stock all year, not knowing much about it. The stock is Sandisk and it doesn't pay a dividend. Sometimes I think that the stock has gone up to much in price to quickly.
Is trying to play it for the downside with one week Put options the way to go? Why try and play Puts on a stock that never seems to go down? Why not just ride the Calls up? The stock is up $52.00 on the day. At noon on a Monday here is what one series of it's "just-in-the-money" Puts look like.
Do these premiums seem to be abnormally high? Yes. $59.00 dollars means $5,900.00 dollars per contract. If you are new to option trading stay away from these ones. Other stocks trading in this price range like Costco have options on them trading at much lower prices. Here is an example of what I am talking about.
If we look back at a blog I did last week on Caterpillar you will see how much of the time premuim built into the pricing on these "one-week-to-expiring-options" decrease in time value as we move closer to the mid week period of Wednesday and Thursday. You can try to play Puts on Sandisk on days when the DJIA index is falling but you don't want to hang around in them to long. When it rebounds back up again which is what it always seems to do on any short term dip it does so quickly. In this case the stock is up $48.00 in morning trading. Now look at these two readouts at the end of todays trading session as the markets took a hit.
Sandisk is up another $16.00 from it's earlier printout. Up $68.78 on the day on a day the DJIA was down over 500 points. In contrast Costco Puts are down as we would expect, this time another $4.00.
To be continued.

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