Lennar (LEN), which rallied 9.3 percent yesterday after NAHB reported that its index of homebuilder sentiment jumped to 18 in October from 14 the month before, is up another 2 cents to $15.94 today after data showed Housing Starts up 15 percent to a better-than-expected annual rate of 658K in September. Trading in LEN options is brisk today. 9,630 calls and 250 puts on the builder so far. The top trade is a 3000-lot of May 20 calls for $1.15 when the market was $1.07 to $1.15. 6,129 traded against only 23 contracts in open interest. Looks like buyers are dominating the flow and possibly rolling out of Nov 15 and Jan 17.5 calls, which are also seeing interest today and trading predominantly on the bid. The company reported earnings one month ago and, after falling to a 52-week low by 10/4, shares are up 9.7 percent since the results were reported on 9/19.

No user commented on " Lennar Corp (LEN) $15.87 -0.31% "
Follow-up comment rss or Leave a Trackback