And lord knows the government is not going to tell us ahead of time they are taking them over - they'll do it over the weekend like they did with Bear

    Puts

    Posted by lawyse on 11th of Jul 2008 at 12:44 pm

    For those who think the government will take them over before August 15

    Buy FNM AUG $5 Put for $1.30

    If it happens, for example, and you have ten contracts you profit $3,700, with a maximum loss of $1,300 if you are wrong.

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