Ryland Group (RYL) NewsBite - Economic Optimism Lifts RYL

Posted: Tuesday, October 06, 2009 10:05 AM EDT

Ryland Group (NYSE: RYL) opened at $19.93. So far today, the stock has hit a low of $19.72 and a high of $20.21. RYL is now trading at $20.19, up $0.67 (3.43%). Over the last 52 weeks the stock has ranged from a low of $9.95 to a high of $24.94. RYL shares are trading higher with the broader market this morning after news of a hike in Australian interest rates bolstered investors' hopes that the global economy is on the way to recovery, extending yesterday's market rally. Technical indicators for the stock are bearish and S&P gives RYL a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on RYL the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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