BP (BP) Trades Lower With Falling Oil Prices
Posted: Friday, March 19, 2010 1:29 PM EDT
By: Market Intelligence Center Staff
BP (NYSE: BP) opened at $58.20. So far today, the stock has hit a low of $57.13 and a high of $58.24. BP is now trading at $57.54, down $0.61 (-1.05%). The stock hit its 52-Week high of $62.38 in January and set its 52-Week low of $38.50 in last March. The stock is trading lower today with falling oil prices. Oil is down $1.78 to $80.42. Technical indicators for the stock are bullish and S&P gives BP a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on BP the stock seems like it could be a candidate for a July out-of-the-money bull-put credit spread below the 49 range. [ABR-Seven Summits Strategic Investments NewsBite]
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