ING Group (ING) 10/23/09 PriceWatch Alert Bullish Price Movement

Posted: Friday, October 23, 2009 8:09 AM EDT

ING Group (NYSE: ING) closed yesterday at $17.48. So far the stock has hit a 52-week low of $3.02 and 52-week high of $18.89. ING Group stock has been showing support around 16.85 and resistance in the 17.83 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 $13.98 area. That is also the break even stock price for this trade. This covered call has a 176 day duration, provides 20.02% downside protection and a 7.30% assigned return rate for a 15.13% annualized return rate (comparison purposes only). ING Group does not pay dividends at this time. [FBB-Seven Summits Research]

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