Structured credit fund warning... LEAPS play in this perhaps?

[mikeydabbles]

Here is the article:

http://www.finalternatives.com/node/3483

"...subprime mortgages were the weakest and thus the first link a chain of adverse events now unfolding

Scary? Maybe, but it may not turn out to be quite as bad as these particular fund managers seem to expect. Should things turn out to be quite this bad... how do you play this?

I posted this to the Stock trading forum as well, just to gain a more diverse perspective from anyone who may be paying attention.

LEAPS puts anybody? Which banks have worst exposure?

[wallstreetsedge]

id never pick up put leaps because you never know what could happen.. next month ABC could be bought out or merge with XYZ. imo i would let 2 quarters go by and start picking up some call leaps