ING Group (ING) PriceWatch Alert for October 14, 2009

Posted: Wednesday, October 14, 2009 8:46 AM EDT

ING Group (NYSE: ING) closed yesterday at $18.18. So far the stock has hit a 52-week low of $3.02 and 52-week high of $19.61. ING Group stock has been showing support around 17.77 and resistance in the 18.43 range. Technical indicators for the stock are Bullish and S&P gives ING a neutral 3 STAR (out of 5) hold rating. ING appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Apr '10 15 covered call (ING DC) for a net debit in the $13.78 area. That is also the break even stock price for this trade. This covered call has an 185 day duration, provides 24.20% downside protection and an 8.85% assigned return rate for a 17.47% annualized return rate (comparison purposes only). ING Group does not pay dividends at this time. [WBA-Seven Summits Research]

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