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

Posted: Thursday, October 22, 2009 1:58 PM EDT

Pan American Silver (NasdaqNM: PAAS) opened at $23.26. So far today, the stock has hit a low of $22.70 and a high of $23.40. PAAS is now trading at $23.02, down $0.29 (-1.24%). Over the last 52 weeks the stock has ranged from a low of $8.93 to a high of $26.70. Shares of PAAS are trading lower with other silver stocks today, hurt by declining 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 December out-of-the-money bear-call credit spread above the 26 range. [ABR-Seven Summits Strategic Investments NewsBite]

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