CF Industries Holdings (CF) NewsBite - Lower Agricultural Futures Drag Down CF

Posted on Wednesday, July 23, 2008 3:06 PM

CF Industries Holdings Inc. (CF) opened at 154.51. So far today, the stock has hit a low of 144.47 and a high of 155.41. CF is now trading at 147.59, down 8.48 (-5.49%). The stock hit its 52 week high of 172.99 in June and set its 52 week low of 44.16 in August. CF has been moving upwards for the past year. CF Industries Holdings shares have been plunging with other chemicals makers on pressure from declining agricultural futures. Technical indicators for the stock are neutral but slightly deteriorating while S&P gives CF a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an August bear-call credit spread above the $185 range. CF stock could rise up to 25.3% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]