Pan American Silver Corp. (PAAS) NewsBite - Lower Silver Futures Put Pressure on PAAS

Tuesday, July 15, 2008 1:09 PM EDT

Pan American Silver Corp. (PAAS) opened at $36.97. So far today the stock has hit a low of $34.35 and a high of $37.16. PAAS is now trading at $34.66, down 1.71 (-4.70%). After hitting a one-year low of $20.80 in August, the stock hit a one-year high of $44.10 in March. PAAS shares are trading lower today, hurt by declining silver futures. Technical indicators for PAAS are bullish and steady. For a hedged play on this stock, consider an August bear-call spread above the $40 range. PAAS hasn't been above 40 since April, and could gain up to 15.4% before this trade loses money. [LHF- Seven Summits Strategic Investments NewsBite]

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