Pulte Homes (PHM) adds 20 cents to $7.13 and 5,000 Jan $10 calls have traded on the homebuilder. The top trade is a 2933-contract block at 22 cents when the market was 19 to 22 cents. Another 3,000 Oct 8 calls changed hands, with 78 percent trading at the ask. Options volume in PHM through the first 10 minutes is 8,300 calls and 90 puts. Shares are up after a 7-day 11.5 percent skid and with help from better-than-expected Housing Starts data released today.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.