Chesapeake Energy (CHK) NewsBite - CHK Slips on Declining Oil Prices

Chesapeake Energy Corp. (CHK) opened at 54.64. So far today, the stock has hit a low of 54.05 and a high of 54.85. CHK is now trading at 54.28, down 1.56 (-2.86%). The stock hit its 52 week high of 74.00 in July and set its 52 week low of 31.38 in January. CHK has been moving upwards for the past year. Chesapeake Energy shares have been falling in morning trading as crude oil price fell near $128 a barrel as concerns eased about possible supply disruptions from Tropical Storm Dolly. Technical indicators for the stock are neutral but deteriorating while S&P gives CHK a positive 4 STARS (out of 5) buy rating. If you're looking for a hedged play on this stock, consider an October bear-call credit spread above the $75 range. CHK stock could rise up to 38.2% before expiration and this position would still be profitable.

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Related terms: crude oil, investment opinion, oil, prices, S&P, tropical storm