Traders Playground

Buying Swing: C 60/65 cDs for 1.50 area, expiring next year. There huge implications about C in the CRomnibus that had just passed. C pushed for this bill to pass, allowing for them to trade CDS in insured accounts again. They pushed so hard to lobby this and get this drafted into a bill for years in Washington (since 2011,or 2012). There has to be some sort of profit motive for such a move, as it also frees up their cost in trading cds in a spin-off and can save costs by using C accounts as well. Also, C has been a laggard of the banks the last several years, it's just starting to gain some momentum above 50. If I can, I also will be looking at the 65 calls in the case of a pullback.