I began trading after 6 years in the secondary mortgage market, where I observed the mortgage process from the purchase of loans originated by brokers to the subsequent securitization and sale of those loans. From that point until now I have done very well trading put options on a number of financial institutions. My approach has been to purchase well out of the money puts with a significant amount of time left, attempting to allow at least 2 earnings reports before expiration.

I am now (as of 2/26/09) shifting my sights to bearish opportunities in the commercial real estate market and consumer loan market. I am seeking knowledge on these fronts, please share if you have something I might find useful.

I currently own (as of 2/26/2009) put options in HSBC (HBC).