Daal, I agree with you and think WFC has a lot of price risk in the stock. I'm just saying that there are other financials that are 99% likely to go to $0. Still, come to think of it, the OTM 2010 Jan puts on WFC may well be a good buy right now. Wells is seen as whiter than white when it clearly isn't.
I'm all ears for other shorts picks, specially 0s. I thought of shorting REITS because of their debt problem but then I figured, hey if banks wont lend for years then fed funds should avg 0.50% or less for years
Highly leveraged reits, that bought properties in 2007 and 2008 at the peak are good short candidates. Look at what happened to SL Green