Washington Mutual Preferred fka WAMPQ

[Yanik]

what do you think of this hedge. 1xx,xxx commons

with 5,000k's and a couple of hundred p's

the way i see it if we get a 50% payout in the prefs then i cover the losses on the commons and walk away with about 4-6 times my initial investment.

thoughts?

I am thinking about upping my commons next week as i will have more fresh powder. I am either gonna by another 10,000 commons or put it all into k's or p's. what do you think.