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Noble Corp. (NE – option chain) shares are rising today after Standard & Poor’s, a unit of McGraw-Hill (MHP), announced NE will be added to its S&P 500 Index after the close of trading on Friday, replacing QLogic (QLGC). Addition to this index means that all the funds that track the index will need to add NE to their holdings, which is usually a positive thing for the stock. If you think that the stock won’t fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on NE.

Read the complete article here.

Happy trading,

Curt