Replies to post #27288 on 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.

[STRIKEEAGLE]

Go... I did the ol "what if commons got totally screwed" question...?

I still wanted to make a certain amount with my P's at 50%. If the P's are higher and / or the U's receive anything, I will be very happy... and if the P's are near FV and the U's even at 3 or 4... I will be VERY HAPPY!