Ameriprise Financial (AMP) PriceWatch Alert for June 16, 2009
Posted: Tuesday, June 16, 2009 8:07 AM EDT
By: Market Intelligence Center Staff
Ameriprise Financial (NYSE: AMP) closed yesterday at $24.78. So far the stock has hit a 52-week low of $11.74 and 52-week high of $49.76. Ameriprise Financial stock has been showing support around 23.83 and resistance in the 25.27 range. Technical indicators for the stock are Bearish and S&P gives AMP a weak 2 STAR (out of 5) sell rating. AMP appears on the Investors Observer Stocks In The News list. On Friday, AMP priced an offering of 36 million common shares at $25 per share. For a hedged play on this stock, look at a Dec '09 22.50 covered call (AMP LX) for a net debit in the $20.08 area. That is also the break even stock price for this trade. This covered call has an 186 day duration, provides 18.97% downside protection and a 12.05% assigned return rate for a 23.65% annualized return rate (comparison purposes only). Ameriprise Financial has a current annual dividend yield of 2.65%. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]
CLICK HERE: FREE Ameriprise Financial (AMP) Stock ReportSee what our analysts have uncovered about Ameriprise Financial (AMP).