Zions Bancorporation (ZION) NewsBite - ZION Rises on Buyout Speculation

Posted: Wednesday, March 10, 2010 11:23 AM EDT

Zions Bancorporation (NASDAQ: ZION) opened at $19.48. So far today, the stock has hit a low of $19.45 and a high of $20.75. ZION is now trading at $20.75, up $1.49 (7.74%). Over the last 52 weeks the stock has ranged from a low of $7.11 to a high of $20.97. ZION shares are rising with other regional banks this morning on rumors that Barclays PLC (BCS) may be looking to buy up banking assets in the US. Technical indicators for the stock are neutral and S&P gives ZION a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ZION the stock seems like it could be a candidate for a July out-of-the-money bull-put credit spread below the 18 range. [ABR-Seven Summits Strategic Investments NewsBite]

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