Diamond Offshore Drilling (DO) NewsBite - DO Falls on Lower Oil

Posted on Monday, October 06, 2008 10:52 AM
Diamond Offshore Drilling (NYSE: DO) opened at $89.00. So far today, the stock has hit a low of $82.56 and a high of $90.47. DO is now trading at $82.56, down $11.17 (-11.92%). Over the last 52 weeks the stock has ranged from a low of $90.72 to a high of $149.30. Shares of DO are trading lower today, hurt by lower oil futures. Technical indicators for the stock are bullish and S&P gives DO a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on DO the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 95 range. [ABR-Seven Summits Strategic Investments NewsBite]
Stocks To Watch Today: C, TIF, RTP, JCG, HLTH, PDLI, TIE, CAJ, EXM, ILMN, HOC (Click Symbol For Latest News)

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