Chesapeake Energy (CHK) NewsBite - CHK Falls on Lower Oil

Posted: Thursday, November 19, 2009 1:57 PM EDT

Chesapeake Energy (NYSE: CHK) opened at $23.91. So far today, the stock has hit a low of $23.19 and a high of $23.94. CHK is now trading at $23.23, down $0.85 (-3.52%). Over the last 52 weeks the stock has ranged from a low of $9.84 to a high of $30.00. CHK shares are under pressure from declining oil futures. Technical indicators for the stock are bullish and S&P gives CHK a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on CHK the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 26 range. [ABR-Seven Summits Strategic Investments NewsBite]

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