wwwPosted Mar 6th 2008 9:33AM by Paul Foster
Filed under: JPMorgan Chase (JPM), Options
Thornburg Mortgage (NYSE: TMA) is recently trading at $1.64 in pre-open trading, below its close of $3.40.
TMA announced it received a letter from JP Morgan (NYSE: JPM) stating that an event of default exists after failing to meet a $28 million margin call.
RBC Capital Markets says "TMA circumstances is now likely very dire."
TMA over all option implied volatility of 207 suggested large risk
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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