Subject: File No. S7-12-06
From: Bruce Thompson

July 9, 2007

Close of business 6/9/2007.

306,072 open NFI put contracts, up from 285,146 this morning.


In one day open interest increased by 20,926.

Total put volume was 22,723, so over 90% of the volume was new open put interest.

CSE volume was 2,775,000 shares. Just over 1/2 million more than the Put options increase. 1/3 of the entire day's volume in the stock.

Open put interest is now over 80% of the 37.9 million shares issued by NFI.

Fun with numbers or signs of something amiss in the mechanism of the free market? You decide.