Ford Motor (F) NewsBite - F Gets Closer To Selling Volvo

Posted: Wednesday, October 28, 2009 9:54 AM EDT

Ford Motor (NYSE: F) opened at $7.27. So far today, the stock has hit a low of $7.15 and a high of $7.28. F is now trading at $7.21, down $0.12 (-1.64%). Over the last 52 weeks the stock has ranged from a low of $1.01 to a high of $8.86. F announced this morning that a group led by Zhejiang Geely Group Holding is its preferred bidder for Volvo Cars. The company also said that it will probably not retain a stake in Volvo. Technical indicators for the stock are neutral and S&P gives F a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on F the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 9 range. [ABR-Seven Summits Strategic Investments NewsBite]

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