Pan American Silver (PAAS) NewsBite - PAAS Falls on Lower Silver

Posted: Tuesday, December 02, 2008 3:42 PM EDT

Pan American Silver (NasdaqNM: PAAS) opened at $12.29. So far today, the stock has hit a low of $11.68 and a high of $12.66. PAAS is now trading at $11.74, down $0.26 (-2.17%). Over the last 52 weeks the stock has ranged from a low of $8.93 to a high of $44.10. Shares of PAAS are declining with other silver miners today, hurt by lower silver futures. Technical indicators for the stock are neutral and S&P does not currently have a STARS rating for PAAS. If you are looking for a hedged play on PAAS the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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