As most investors turn away from financials, there could be a way to make opportunities to the downside, said Randy Frederick, Charles Schwab director of derivatives, on CNBC's "The Call."
As investors are bearish on Citgroup, Wells Fargo, Merrill Lynch and Washington Mutual, there are opportunities to the downside, said Randy Frederick, Charles Schwab. Meanwhile, Wachovia was only a surprise to investors who were not aware of the options activity, he said. "Wachovia was a big surprise, but if you look at the options activity, the puts were building like crazy."
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Disclosure: Disclosure information for Frederick was not available.