ING Group (ING) 10/28/09 PriceWatch Alert Support At Around $12.07

Posted: Wednesday, October 28, 2009 8:17 AM EDT

ING Group (NYSE: ING) closed yesterday at $12.96. 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 12.07 and resistance in the 14.61 range. Technical indicators for the stock are Bearish 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 12.50 covered call (ING DV) for a net debit in the $11.31 area. That is also the break even stock price for this trade. This covered call has a 171 day duration, provides 12.73% downside protection and a 10.52% assigned return rate for a 22.46% annualized return rate (comparison purposes only). ING Group does not pay dividends at this time. [WBA-Seven Summits Research]

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