Credit Suisse Group (CS) 10/30/09 PriceWatch Alert Up To 6.08% Downside Protection

Posted: Friday, October 30, 2009 8:23 AM EDT

Credit Suisse Group (NYSE: CS) closed yesterday at $55.95. So far the stock has hit a 52-week low of $18.61 and 52-week high of $60.08. Credit Suisse Group stock has been showing support around 53.40 and resistance in the 57.38 range. Technical indicators for the stock are Bullish and S&P gives CS a positive 4 STAR (out of 5) buy rating. CS appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Dec '09 55 covered call (CS LK) for a net debit in the $52.55 area. That is also the break even stock price for this trade. This covered call has a 50 day duration, provides 6.08% downside protection and a 4.66% assigned return rate for a 34.03% annualized return rate (comparison purposes only). Credit Suisse Group has a current annual dividend yield of 0.11%. [FBB-Seven Summits Research]

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