MGIC Investment Corp (MTG) $2.39 +0.42%
MGIC (MTG) is up 2 cents to $2.40 and 30,000 calls are bought on the Milwaukee-based mortgage insurance company for 33 cents per contract. The position looks opening and seems to reflect expectations for a dramatic reversal of fortunes for shares through 2013. $10 calls on MTG are 317 percent out-of-the-money after a 76.5 percent year-to-date decline in the share price. The stock closed out 2010 at $10.19 per share.
Category: All Stocks, Financial Services, Small Cap Stocks
Free Newsletter
If you enjoyed this article, sign up to receive more just like it.
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.
