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

Posted: Monday, June 22, 2009 12:15 PM EDT

Pan American Silver (NasdaqNM: PAAS) opened at $18.26. So far today, the stock has hit a low of $17.56 and a high of $18.31. PAAS is now trading at $18.12, down $0.82 (-4.31%). 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 declining today, hurt by lower 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 a July out-of-the-money bear-call credit spread above the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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