AK Steel (AKS) NewsBite - AKS Drops on Falling Steal Prices

Posted on Tuesday, September 02, 2008 3:47 PM
AK Steel (NYSE: AKS) opened at $50.28. So far today, the stock has hit a low of $47.52 and a high of $51.50. AKS is now trading at $47.75, down $4.86 (-9.24%). The stock hit its 52-Week high of $73.07 in May and set its 52-Week low of $34.20 in January. AK Steel Holding shares have been tumbling today dragged down by declining steel prices. Technical indicators for the stock are neutral and S&P gives AKS a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on AKS the stock seems like it could be a candidate for a September out-of-the-money bear-call credit spread above the 60 range. [ABR-Seven Summits Strategic Investments NewsBite]
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