BHP Billiton (BHP) NewsBite - Economic Optimism Lifts BHP

Posted: Wednesday, November 25, 2009 9:51 AM EDT

BHP Billiton (NYSE: BHP) opened at $76.44. So far today, the stock has hit a low of $76.11 and a high of $76.52. BHP is now trading at $76.15, up $1.86 (2.5%). Over the last 52 weeks the stock has ranged from a low of $32.33 to a high of $76.49. BHP shares are rising with other stocks this morning after a better-than-expected drop in initial jobless claims reignited hopes that an economic recovery will be smooth. The Labor Department said initial jobless claims fell to a seasonally-adjusted 466,000 last week, the lowest level in over a year. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for BHP. If you are looking for a hedged play on BHP the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 65 range. [ABR-Seven Summits Strategic Investments NewsBite]

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