S&P;/Case-Shiller Home Price Index Futures

[Gohabsgo_IHB]

These futures are being sold here: CME GROUP.

You can trade CSI futures on the following U.S. cities:

-Boston

-Los Angeles

-San Francisco

-Chicago

-Miami

-Washington, D.C

-Denver

-New York

-Las Vegas

-San Diego; and

-Composite index of all 10 cities

Here's a link to the S&P/Case-Shiller Historical Home Price Index. Here's additional Information on this index.

Here you can find the current prices of the Futures

For Los Angeles (FYI - Los Angeles index includes the LA and Orange counties), the maximum has been 273.94 and is 198.59 in May 2008.

August 2008 is priced around 195 (28.8% from peak and 1.8% from May 2008)

November 2008 is around 180 (34.3% from peak and 9.4% from May 2008)

February 2009 is around 170 (37.9% from peak and 14.4% from May 2008)

May 2009 is around 160 (41.6% from peak and 19.4% from May 2008)

August 2009 doesn't have a reliable bid amount, so it's hard to quantify

November 2009 is around 157 (42.7% from peak and 20.1% from May 2008)

The following quarters don't seem to have enough activity to be reliable, but it doesn't look like it's expected to see anything below 150-155 and there doesn't seem to be any recovery before 2012 which is in line with a typical 6 year cycle.

It looks like the Composite-10 also settles somewhere in the low 150 which is a 33.7% decline from its peak of 226.29.

 

[graphrix_IHB]

If the options were traded electronically and not restricted to trades via a broker with a seat at the CME, then I kid you not, I would have puts like a bear in heat on the LA index.