Freddie Mac posting its second largest profit should be reason enough to buy calls.
In the subdivision I am building my house in has gone years without a single start, now there are 6 under construction and 4 in planning. These are upper end custom houses which is a big deal in Nevada.
From where I sit, this is just the start of the housing recovery in the US. To help you out with USG, I just placed my order for 471 sheets.
First, 500,000 shares is nothing. I trade 50k shares of PHM from time to time and currently have such a position and I'm just a small millionaire and not a billionaire. LOL. 2nd, the fund could be short stock or other housing names against his call position at any time. So it is meaningless completely these disclosures. They shouldn't even make the news.