Freddie Mac-No Politics (FMCC)

[Ecomike]

In case no one has noticed (LOL) we seem to be in a medium term down turn correction in the markets (except for the dollar which is in rally mode). I bought what I think is some real cheap short term insurance for further temporary large moves against my long position in FRE. And they are still cheap as hell. I bought $1 Dec puts for FRE, at only .05 each. We were at 1.06 at one point just last week when the market was still higher than todays new (recent) low. What I can not figure out is why the $1 puts are still so cheap. Something to watch anyway.