Ameriprise Financial (AMP) PriceWatch Alert for October 16, 2009

Posted: Friday, October 16, 2009 8:28 AM EDT

Ameriprise Financial (NYSE: AMP) closed yesterday at $37.26. So far the stock has hit a 52-week low of $11.74 and 52-week high of $37.80. Ameriprise Financial stock has been showing support around 35.93 and resistance in the 38.25 range. Technical indicators for the stock are Bullish 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. Credit Suisse downgraded AMP Tuesday to Neutral from Outperform. For a hedged play on this stock, look at a Dec '09 35 covered call (AMP LG) for a net debit in the $33.36 area. That is also the break even stock price for this trade. This covered call has a 64 day duration, provides 10.47% downside protection and a 4.92% assigned return rate for a 28.04% annualized return rate (comparison purposes only). Ameriprise Financial has a current annual dividend yield of 1.90%. [FBB-Seven Summits Research]

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