Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (64478)	6/1/2005 1:21:10 AM
From: Taikun	Read Replies (1) of 74559

Hi Jay, Actually the way out of the money puts on Tol and others look interesting. Consider Tol was pretty much below $30 until 2003 and below $20 for 2000, 2001 and part of 2002. $30 2007 Puts are $1.05. The only thing that keeps me from buying is if Uncle Al can hold the housing market together. One way he could do that is if the Euro really caves and liquidity flows to the senior currency, the USD. We saw this as the 10yr dropped below 4%, the 30yr fixed rate mortgage is 6 pips lower than last week at 5.21. bankrate.com Maybe another round of record housing numbers? Of course, we all know how it ends, but we live in the space in the middle. D

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