Washington Mutual March Puts

Following-up the earlier call this week for FRE puts, today we have another financial that is experiencing a lot of put buying and that is Washington Mutual (WM). March puts in the 12.50 and the 14 strike price have tremendous buying compared to previous sessions. The stock is currently down 6.5% as the market is weak today and financials are having difficulty with Ambac not pleasing anyone, Thornburg Mortgage collapsing, and Washington Mutual being downgraded by S&P and being placed on a negative watch.