Owens Illinois (OI) NewsBite - One of Today's Top Gainers So Far

Posted: Thursday, October 30, 2008 3:23 PM EDT

Owens Illinois (OI) leads the list of top gainers so far today and is now at $23.72, up $4.50 (23.41%) on volume of 3,581,013 shares traded. Over the last 52 weeks the stock has ranged from a low of $16.39 to a high of $60.60. Owens Illinois stock has been showing support around $17.20 and resistance in the $21.56 range. Technical indicators for the stock are bearish and S&P gives OI a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on OI the stock seems like it could be a candidate for a November out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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