Court of Appeals for the Seventh Circuit June 30, 1999, 98-3914 (J.F. McKinney & Associates, Ltd. v. General Electric Investment Corporation)

EASTERBROOK, Circuit Judge.

For $50,000, Prudential Insurance Company sold John McKinney a 70-day option to purchase a long-term note secured by a mortgage of 200 South Wacker Drive, a large building in Chicago. The exercise price was 103% of the principal balance of the loan, estimated to be about $47,200,000 by the end of the option period.