Schnitzer Steel (NASDAQ: SCHN - option chain) stock is falling today after the company reported a third-quarter loss this morning of $1.53 million, or 5 cents per share. Analysts had expected the company to report a profit of 16 cents per share. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on SCNH.This morning, SCHN opened at $56.99. So far today the stock has hit a low of $52.40 and a high of $57.00. As of 12:00, SCHN is trading at $52.88, down $7.33 (-12.2%). The chart for SCHN looks bullish.
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