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.
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