Occidental Petroleum (OXY) NewsBite - OXY Rises on Higher Oil

Tuesday, December 02, 2008 10:49 AM EDT

Occidental Petroleum (NYSE: OXY) opened at $48.12. So far today, the stock has hit a low of $46.96 and a high of $48.74. OXY is now trading at $48.28, up $2.39 (5.21%). Over the last 52 weeks the stock has ranged from a low of $39.93 to a high of $100.04. Shares of OXY are rising with other oil stocks today, helped by higher oil futures. Technical indicators for the stock are bullish and S&P gives OXY a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on OXY the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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