Original post:
In late pre-market trade the stock is up another 2.72% at $33.66.
Of the government owned ventures (GOV's), Citigroup is the standout. AIG could sell every asset they have and not come up with enough cash to repay the federales. Fannie and Freddie are dead without the cash transfusions from the Treasury.
I don't follow GMAC, GM or Chrysler.
We're getting close to another shot at a short on the former world's largest insurer.*
That said, some folks are taking the opposite view (or hedging or their mom didn't love them and they have to validate their lack of self-worth by losing their money or who knows what).
From Schaeffer's Investment Research:
American International Group (AIG) was the center of some brisk options trading on Tuesday, as more than 321,000 contracts changed hands. This surge in trading volume was more than five times the stock's average daily trading volume of 60,056 contracts, according to data from WhatsTrading.com. In addition, 69% of the volume changed hands on the call side....MORE*See "How's That "Short AIG Working Out?" "Back-month bears bet on an extended slide for the insurance issue" (AIG)"...Technically speaking, the stock soared sharply higher on Tuesday and is now sitting on a year-to-date gain of more than 9%. A continued rally in the shares should shake loose the rest of the bears, pushing the stock even higher.
