FHN - New short setup

No position here yet, but I updated the real estate spreadsheet to add regional banks exposure and came up with FHN as one of the gems. It is part of the SouthEast Regional Bank subsector and just reported dissapointing earnings which were composed mainly of one-time gains, etc. If you subtract out the one-time items you can see that their net income was down about 20% sequentially mainly due to a flatter yield curve and slowing mortgage volumes.

Here is the chart:


May options are very inexpensive. I was looking at getting a position in the May 40s or May 45 PUTS. Here is the snapshot:

Best regards,

BG