Massey Energy (MEE) NewsBite - MEE Falls on Lower Coal

Posted: Wednesday, November 05, 2008 11:22 AM EDT

Massey Energy (NYSE: MEE) opened at $22.30. So far today, the stock has hit a low of $20.94 and a high of $22.43. MEE is now trading at $21.99, down $1.15 (-4.97%). Over the last 52 weeks the stock has ranged from a low of $15.25 to a high of $95.70. Shares of MEE are trading lower today, hurt by lower coal futures. Technical indicators for the stock are neutral and S&P gives MEE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on MEE the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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