BP (BP) Trading Higher Today Despite Falling Oil Prices
Posted: Monday, August 30, 2010 2:07 PM EDT
By: Market Intelligence Center Staff
BP (NYSE: BP) opened at $35.64. So far today, the stock has hit a low of $35.47 and a high of $36.12. BP is now trading at $35.62, up $0.06 (0.17%). The stock hit its 52-Week high of $62.38 in January and set its 52-Week low of $26.75 in June. BP is trading higher today despite falling oil prices. Oil is down $0.48 a barrel today to $74.68. Technical indicators for the stock are neutral and S&P gives BP a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BP the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 27.50 range. [ABR-Seven Summits Strategic Investments NewsBite]
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