WellPoint Health Networks (WLP) NewsBite - WellPoint Lifted by Positive HUM Earnings

Posted on Monday, August 04, 2008 1:55 PM

WellPoint Health Networks (NYSE: WLP) opened at $52.01. So far today, the stock has hit a low of $51.78 and a high of $53.65. WLP is now trading at $53.59, up $2.02 (3.92%). The stock hit its 52-Week high of $90.00 in January and set its 52-Week low of $43.02 in March. WellPoint shares have been soaring after rival Humana Inc. (HUM) reported better-than-expected quarterly earnings and raised its earnings-per-share projection for the full year. Technical indicators for the stock are bearish and S&P gives WLP a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on WLP the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]