Freddie Mac traded down to 25.5 late yesterday on the news of the dividendend cut an dthe preferred. What's the stock doing today. Up 4 dollars!
Freddie Mac (FRE 26) options are a good spec at these levels. FNM is starting to bounce, and speculators will play a bounce in FRE with options. The stock was already downgraded by Goldman Sachs today and it seems to have found cautious buyers at these levels.