Fannie Mae (FNMA)

[Zargis]

The SEC report indicates he owns 9.98% in fnma still, and effectively has an option contract to buy another 15million through next year April for $3.53.

He hasn't increased his stake, he did something smarter. Since he legally still owns only 9.98%, he can legally ditch it all if things get nasty.

However, if things get good he can buy more on a low contract price and effectively have 12%~

I am not sure why they say more than 11%... could easily say 12% in fnma though maybe fmcc he only has like 11.25% or something.

Be well,

-zargis