Diamond Offshore Drilling (DO) NewsBite - DO Higher on Rising Oil

Posted: Monday, November 16, 2009 1:24 PM EDT

Diamond Offshore Drilling (NYSE: DO) opened at $101.01. So far today, the stock has hit a low of $101.01 and a high of $103.70. DO is now trading at $103.33, up $3.32 (3.32%). Over the last 52 weeks the stock has ranged from a low of $53.30 to a high of $108.78. DO shares are rising today, helped by higher oil futures. Technical indicators for the stock are bullish and S&P gives DO a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on DO the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 90 range. [ABR-Seven Summits Strategic Investments NewsBite]

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