Oracle (NasdaqNM: ORCL) NewsBite - ORCL-Sun Micro Deal Approved by US Justice Dept.

Posted: Friday, August 21, 2009 10:02 AM EDT

Oracle (NasdaqNM: ORCL) opened at $22.11. So far today, the stock has hit a low of $21.74 and a high of $22.14. ORCL is now trading at $21.84, down $.10 (-0.46%). The stock hit its 52-Week high of $22.82 in August of 2008 and set its 52-Week low of $13.80 in March. ORCL is flat today after the company said yesterday evening that the US Justice Department approved Oracle's acquisition of Sun Microsystems (JAVA). Technical indicators for the stock are neutral and S&P gives ORCL a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ORCL the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 18 range. [ABR-Seven Summits Strategic Investments NewsBite]

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