While the market is up today in what appears to be a pretty strong short squeeze, one that could carry through for a day or two, underneath things still look ugly.
While we hear about all the big tech names taking it on the chin, under the radar, the real estate investment trusts and companies similar to REITs have been crushed. The charts on Medical Properties Trust Inc. (MPW) , Ares Capital Corporation (ARCC) , and FS KKR Capital Corp. (FSK) all look really bad. The worst of them though may be AGNC Investment Corp (AGNC) . AGNC has been torched the last few days and traders are still positioning themselves for this to drop further, likely below $7.00 a share. The Oct. 9 puts cost about $0.50, these are going to $1.00.
Trade: Buy to open AGNC Oct. 21 $9 puts for $0.50.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
At the request of a subscriber, here's my take on IFF and how to play it, and on the jobs numbers that come in Friday.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.
Email
Email sent
Thank you, your email to has been sent successfully.
