Bought to Open 2 contracts of C Jan 17 2009 $10.00 Put at 0.70

Trade

Trade ticket:

C Jan 17 2009 $10.00 Put 6.70 +0.15 (+2.29%)
Transaction: Bought to Open
Security: C Jan 17 2009 $10.00 Put
Quantity: 2 contracts
Price: $0.70
Value: $140.00
Target price: $5.00

Trade Note:

Technically they are insolvent, tier 3 assets (mark to make believe) to equity is ~80%.   When the prime-option arms mortgages implode, this one will soon follow.  I don't believe the gov't will let them fail (bsc), but I do think a ridiculous price $2-$5 will be expected.  Plenty of time, for this to be flushed out.   

Posted 15 days after the trade

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Trade

Company information:

C 3.97 -0.21 (-5.02%)
Users bought (this month) 1499 (62.04%%)
Users sold (this month) 917 (37.96%%)
Market cap 113.05B
52-week high 5.43
52-week low 1.48
10-day volume 407.08M
P/E -5.50
EPS (trailing 12 months) -0.76
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Posted by stevenbhorse on 04/04/08 at 02:16 AM

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