Countrywide shares dive on rumors of cash squeeze

'Options traders increased bets that Countrywide's stock will slide as much as 67 percent from Monday's close of $7.64 before this month's contracts expire Jan. 18. "That's panic buying in options," said Peter Dunay, chief investment strategist at Leeb Capital Management in New York. "People are definitely speculating that Countrywide could be going much lower," Dunay said.'