Shorting the Financials
Add MBI Puts
Dear Bottarelli Research Member,
I want to add a put to our ledger, and it comes in the banking sector. I’m sorry, but it seems like nobody is giving ample attention to all the bad paper that’s looming (and the troubling effects it’ll have on the financial sector). The company we’ll be adding puts on holds much of this toxic paper, which is why I feel the recent rally will be short-lived.
The company is MBIA Inc. (MBI – NYSE), and we are going to use the MBI January 12 Puts (MBI MN) as our way to profit off a pending fall. Add them at or under $3.20 now.
PLAY: Buy the MBI January 12 Puts (MBI MN) at or under $3.20, good for the day.
Sincerely,
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