Aetna (AET) NewsBite - AET Rises on Banking Plan

Tuesday, October 14, 2008 9:59 AM EDT

Aetna (NYSE: AET) opened at $28.56. So far today, the stock has hit a low of $34.37 and a high of $36.19. AET is now trading at $35.65, up $2.95 (9.02%). Over the last 52 weeks the stock has ranged from a low of $21.25 to a high of $60.00. Shares of AET are trading higher this morning with other insurance companies after the government announced a plan to buy up to $250 billion worth of shares in bank stocks to boost liquidity and ease credit concerns. Technical indicators for the stock are bullish and S&P gives AET a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on AET the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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