Research in Motion (NASDAQ: RIMM) fell Monday after Roger Martin, who sits on the company’s board, told The Globe and Mail that the company would have been ill-advised to replace its co-CEOs until recently. Martin also referred to critics of the company who wanted management replaced sooner as “children” and “morons.”
An April 21/26 Out of The Money Bear-Call Credit Spread looks like an attractive way to play RIMM today. This strategy aims for a return of 5.49% and RIMM is 40% out of the money. Recent support for this stock has been demonstrated near $15.12 while resistance has been around $15.94.
Research in Motion is trading today at $15.01, down $-0.43 (-2.67%) from yesterday’s close. The stock began the day trading at $15.68 and has moved between $15 and $15.74. Recent technical indicators for the stock are bearish and Standard & Poor’s gives RIMM a negative 2 STARS (out of 5) sell.
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