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

Posted: Monday, June 08, 2009 11:28 AM EDT

Pan American Silver (NasdaqNM: PAAS) opened at $21.50. So far today, the stock has hit a low of $20.71 and a high of $21.50. PAAS is now trading at $21.05, down $1.03 (-4.66%). Over the last 52 weeks the stock has ranged from a low of $8.93 to a high of $37.16. Shares of PAAS are trading lower this morning, hurt by declining silver futures. Technical indicators for the stock are bullish 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 an October out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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