KB Homes (KBH) is off 16 cents to $5.91 and 20000 Oct 8 calls are sold on the homebuider at 13 cents per contract. Open interest is 20,310 and so this might be a closing trade. If so, it exits a position accumulated from Aug 29 to Aug 31 when open interest increased by 19,831 to 20,433 contracts over those three days. At that time, the largest trade was a 3,652-contract block at 21 cents. Shares are down 13.5 percent since Aug 30 and today’s call write seems to reflect diminishing expectations for a move beyond $8 (~35.4%) in KBH through the Oct expiration (42 days).