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Options flyer was a loser
Two New York office workers bet on a rising option value tied to Fannie Mae. They bought ten January 10 calls at 17 for 1500 dollars, hoping rates would fall. When rates rose and Fannie Mae slid to 11 16, the option lost value, ending in a loss of the bet.
MENTIONED IN THIS ARTICLE
Chet Carrier
New York
Federal National Mortgage Association
Fannie Mae
Chicago Board Options Exchange
Federal National Mortgage
CBOE