NetApp (NTAP) Offering Possible 7.76% Return Over the Next 9 Calendar Days

NetApp's most recent trend suggests a bearish bias. One trading opportunity on NetApp is a Bear Call Spread using a strike $37.50 short call and a strike $42.50 long call offers a potential 7.76% return on risk over the next 9 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $37.50 by expiration. The full premium credit of $0.36 would be kept by the premium seller. The risk of $4.64 would be incurred if the stock rose above the $42.50 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for NetApp is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for NetApp is bearish.

The RSI indicator is at 25.84 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for NetApp

NetApp to Downsize Employee Strength
Thu, 13 Mar 2014 20:24:32 GMT
Zacks – Per a SEC filing by NetApp Inc., the network storage provider is set to downsize its employee strength by 600 as part of its business realignment plan.

NetApp Shares Nudge Lower on Job Cuts
Thu, 13 Mar 2014 14:31:00 GMT
TheStreet – Shares of NetApp NTAP fall in early trading on Thursday after the storage networking specialist announces plans to cut 600 jobs, or around 6% of its work force.

Coverage initiated on NetApp by Wunderlich
Thu, 13 Mar 2014 12:40:53 GMT

NetApp downgraded to Hold from Buy at Lake Street
Thu, 13 Mar 2014 12:32:53 GMT
theflyonthewall.com – NetApp downgraded to Hold from Buy at Lake Street

NetApp Slashing 600 Jobs, Taking Charges
Wed, 12 Mar 2014 21:59:00 GMT
Barrons.com – NetApp disclosed that it is slashing 600 jobs in light of constrained IT spending. NetApp (NTAP), which makes software and hardware products for data storage , said it would incur charges of approximately $35 to $45 million in the fourth quarter of fiscal 2014. NetApp's revenue fell below expectations in its latest quarter, and its outlook for the current quarter also was below expectations.

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