Red Hat (RHT) NewsBite - RHT To Join S&P 500 Index

Posted: Monday, July 20, 2009 9:55 AM EDT

Red Hat (NYSE: RHT) opened at $21.98. So far today, the stock has hit a low of $21.80 and a high of $22.00. RHT is now trading at $21.97, up $1.37 (6.65%). Over the last 52 weeks the stock has ranged from a low of $7.50 to a high of $23.38. RHT shares are trading higher this morning after Standard & Poor's announced the stock will join its S&P 500 Index, replacing CIT Group (CIT), after the close of trading on Friday. Technical indicators for the stock are bearish and S&P gives RHT a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on RHT the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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