Original post:
We saw the uptick yesterday but moved on to something else. Today the stock is up another 15 cents, to $1.59.
From Schaeffer's Research:
Call volume has ramped up to 16 times the norm today on Freddie Mac (FRE), after a Bloomberg report suggested that the mortgage lender's regulator, the Federal Housing Finance Agency, might request additional aid from the U.S. Treasury. Roughly 5,231 call contracts have crossed the tape so far, and speculators are setting their sights on the stock's in-the-money December 1 call.
So far, a total of 2,535 contracts have traded on FRE's December 1 call, with 99% changing hands at the ask price. With only 1,326 contracts in open interest at this strike, it seems safe to say that traders are adding new bullish bets at the December 1 call today....MORE
And from The Street.com:
Fannie Mae (FNM Quote)and Freddie Mac(FRE Quote) shares are surging again as speculators refuse to give up on the idea that the giant housing lenders' shares might be worth something....MORE
