James River Coal (JRCC) NewsBite - JRCC Falls on Notes Offering

Posted: Thursday, November 12, 2009 11:44 AM EDT

James River Coal (NasdaqNM: JRCC) opened at $20.24. So far today, the stock has hit a low of $20.04 and a high of $20.41. JRCC is now trading at $20.12, down $1.80 (-8.21%). Over the last 52 weeks the stock has ranged from a low of $5.05 to a high of $25.13. JRCC announced last night it will offer $125 million in senior convertible notes. Technical indicators for the stock are bullish and S&P gives JRCC a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on JRCC the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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