XM Satellite Radio Holdings Inc.
(XMSR) opened at 10.68. So far today, the stock has hit a low of 10.65 and a high of 11.40. XMSR is now trading at 11.16, up 0.43 (4.03%). The stock hit its 52 week high of 16.44 in December and set its 52 week low of 9.62 in January. XMSR has been trading with volatility for the past year. Shares of broadcasting operators have been rallying on news that a group of banks involved in the $20 billion buyout of Clear Channel Communications Inc.
(CCU) offered to enter binding arbitration with the private equity buyers to settle a dispute over funding the deal. Technical indicators for the stock are bearish and steady while S&P gives XMSR a negative 2 STARS (out of 5) sell rating. If you’re looking for a hedged play on this stock, consider a June bull-put credit spread below the $9 range. XMSR stock could fall up to 19.4% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]