Arch Coal (ACI) Rises on Higher Coal
Posted: Monday, November 23, 2009 11:14 AM EDT
Arch Coal (NYSE: ACI) opened at $22.80. So far today, the stock has hit a low of $22.52 and a high of $23.18. ACI is now trading at $22.53, up $0.29 (1.3%). Over the last 52 weeks the stock has ranged from a low of $11.01 to a high of $25.86. ACI shares are getting a lift from higher coal futures this morning. Technical indicators for the stock are bearish and S&P gives ACI a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on ACI the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]
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