Chesapeake Energy (CHK) NewsBite - Energy Futures Boost CHK

Chesapeake Energy (CHK) opened at $63.48. So far today the stock has hit a low of $63.44 and a high of $64.5. CHK is now trading at $65.44, up 3.86 (6.27%). After hitting a one-year low of $31.38 in August, the stock hit a one-year high of $74.00 last week. CHK shares are rising this morning, helped by higher oil and natural gas futures. Technical indicators for CHK are bullish but deteriorating slightly, while S&P gives the stock a positive 4 STARS (out of 5) buy rating. If you're looking for a hedged play on this stock, consider an August bull-put credit spread below the $50 range. CHK hasn't been below $50 since April and has shown support around $55 recently. This trade could be risky if the price of oil moderates, but even if that happens, this position could be protected by the support the stock might find around $50 where it bottomed in early June.

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Related terms: energy, futures, investment opinion, natural gas, oil, S&P, trade