Goldcorp (GG) NewsBite - Rising Gold Futures Lift Goldcorp

Posted on Monday, July 21, 2008 3:02 PM

Goldcorp Inc. (GG) opened at 46.39. So far today, the stock has hit a low of 45.24 and a high of 46.68. GG is now trading at 46.25, up 0.65 (1.40%). The stock hit its 52 week high of 52.65 in July and set its 52 week low of 21.00 in August. GG has been moving upwards for the past year. Shares of Goldcorp have been rising in today's action due to higher gold futures. Technical indicators for the stock are bullish and steady. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $37.50 range. GG stock could fall up to 18.9% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]