Reuters announced this week that Jose Canseco, a well-known US professional athlete and author, exercised his free housing put. Mr. Canseco explained the exercise of his American-style put option:
"I do have a judgment on my home and it to me is very strange because it didn't make financial sense for me to keep paying a mortgage on a home that was basically owned by someone else," he said.... "I decided to just let it go.""
The housing straddles offered in the US housing market were free to all "home buyers." Mr. Canseco received a free straddle with this particular house he "bought."
