BP (BP) NewsBite - BP Rises on Higher Oil

Posted: Wednesday, November 04, 2009 1:25 PM EDT

BP (NYSE: BP) opened at $57.73. So far today, the stock has hit a low of $57.63 and a high of $58.19. BP is now trading at $57.71, up $0.16 (0.28%). Over the last 52 weeks the stock has ranged from a low of $33.70 to a high of $58.69. BP shares are getting a lift from higher oil futures today. Technical indicators for the stock are neutral and S&P gives BP a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BP the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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