Patriot Coal (PCX) NewsBite - Higher Coal Boosts PCX

Posted: Wednesday, May 20, 2009 12:01 PM EDT

Patriot Coal (NYSE: PCX) opened at $9.74. So far today, the stock has hit a low of $9.60 and a high of $10.65. PCX is now trading at $10.13, up $0.76 (8.11%). Over the last 52 weeks the stock has ranged from a low of $2.76 to a high of $82.22. PCX shares are rising today, helped by higher coal futures. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for PCX. If you are looking for a hedged play on PCX the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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