Washington Mutual Inc (WM) $7.27 -15.56%
Washington Mutual (WM) puts are active as the stock sinks to new lows. Shares are getting hit for a 15 percent loss (to $7.30) and fell to new lows of only $7.17. The decline seems to be in reaction to today’s Wall Street Journal report that regulators are increasingly concerned about losses on loans to homebuilders and are urging National City (NCC) to make sure it has adequate capital. WM and Wachovia (WB) have, like NCC, been capital raisers lately and today’s news might have stoked fears that those efforts might not be quite enough. 84,000 WB puts have traded today, compared to 40,000 call options.
Category: All Stocks, Banks, Mid Cap Stocks
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
