TCF Financial (TCB) PriceWatch Alert With Support Around $12.21

Posted: Monday, July 06, 2009 8:07 AM EDT

TCF Financial (NYSE: TCB) closed yesterday at $12.78. So far the stock has hit a 52-week low of $8.74 and 52-week high of $28.00. TCF Financial stock has been showing support around 12.21 and resistance in the 13.93 range. Technical indicators for the stock are Bearish and S&P gives TCB a very positive 5 STAR (out of 5) strong buy rating. TCB appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Jan '10 10 covered call (TCB AB) for a net debit in the $9.08 area. That is also the break even stock price for this trade. This covered call has a 194 day duration, provides 28.95% downside protection and a 10.13% assigned return rate for a 19.06% annualized return rate (comparison purposes only). TCF Financial has a current annual dividend yield of 1.52%. [For more information on these strategies along with more details on possible risks go to www.iotogo.com/HPWAinfo]

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