Intrepid Potash (IPI) Trading With Unusual Volume
Posted: Friday, November 20, 2009 2:34 PM EDT
By: Market Intelligence Center Staff
Intrepid Potash (IPI) appears to be trading at a higher than usual volume today and is now at $29.82, up $0.78 (2.69%) on volume of 2,417,419 shares traded. For the last 30 days IPI has traded 1,690,533 shares on average each day. So far today's volume is 43% above that average volume. Over the last 52 weeks the stock has ranged from a low of $13.80 to a high of $34.56. Intrepid Potash stock has been showing support around $27.73 and resistance in the $29.79 range. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for IPI. If you are looking for a hedged play on IPI the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 26 range. [ABR-Seven Summits Strategic Investments NewsBite]
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