xlf april 25$ puts

[MrSer]

I think its a good buy going into citigroups earnings. The market is in a downward trend and it won't end soon. This is a lot worse than people think it is.

[MrSer]

currently .52 by .57 i got in at .40

[Shhhhh]

Nice trade...

I'd be a little cautious tomorrow... Wachovia just got a $7B cash infusion. It's certainly becoming old hat now... but may provide a cushion for financials tomorrow.

[MrSer]

Originally Posted by Shhhhh

Nice trade...

I'd be a little cautious tomorrow... Wachovia just got a $7B cash infusion. It's certainly becoming old hat now... but may provide a cushion for financials tomorrow.

I really don't think thats a good thing. Futures down also I'm guessing negative reaction to that news.

PHILADELPHIA (Reuters) - Wachovia Corp (NYSE:WB - News) may get a capital infusion of roughly $6 billion to $7 billion from outside investors, The Wall Street Journal said on Sunday.

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The terms of the deal were being finalized on Sunday night, but Wachovia could get funding from investors who would get discounted shares in the company, the newspaper said in its electronic edition.

The investors would get shares priced at roughly $23 to $24 each, the newspaper said. That marks a discount compared with Wachovia's closing stock price of $27.87 on the New York Stock Exchange.

Wachovia could not be immediately reached for comment.

But the bank issued a statement that it rescheduled the release of its first quarter earnings and would announce its results on Monday instead of Friday.

The cash infusion for Wachovia would be structured similarly to the $7 billion infusion announced by Washington Mutual Inc. last week, the newspaper said.

One potential Wachovia investor is private-equity firm Warburg Pincus, the newspaper said. Warburg Pincus declined to comment.

(Editing by Louise Heavens)

[MrSer]

sold half @ .80 so the other half is free.

[MrSer]

At least i have not lost anything too bad could of been much better.