Chevron (CVX) NewsBite - Lower Oil Pulls Down CVX

Posted: Wednesday, October 15, 2008 9:50 AM EDT

Chevron (NYSE: CVX) opened at $66.48. So far today, the stock has hit a low of $64.84 and a high of $66.48. CVX is now trading at $65.11, down $3.44 (-5.02%). Over the last 52 weeks the stock has ranged from a low of $55.50 to a high of $104.63. CVX shares are declining this morning, hurt by lower oil futures. Technical indicators for the stock are neutral and S&P gives the stock a 5 STARS rating strong buy ranking. If you are looking for a hedged play on CVX the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 90 range. [ABR-Seven Summits Strategic Investments NewsBite]

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