Callaway Golf (ELY) NewsBite - One of Today's Top Gainers

Posted: Thursday, July 30, 2009 3:20 PM EDT

Callaway Golf (ELY) leads the list of top gainers so far today and is now at $6.69, up $1.01 (17.78%) on volume of 5,025,365 shares traded. Over the last 52 weeks the stock has ranged from a low of $4.66 to a high of $15.45. Callaway Golf stock has been showing support around $5.46 and resistance in the $5.86 range. Technical indicators for the stock are bearish and S&P gives ELY a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on ELY the stock seems like it could be a candidate for a February out-of-the-money bull-put credit spread below the 5 range. [ABR-Seven Summits Strategic Investments NewsBite]

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