KB Homes (KBH) adds 49 cents to $7.75 and options volume on the homebuilder is 3X the daily average, being led by a 14,900-lo tof Jul 7 puts on the 44-cent bid. It’s possibly liquidating. Implied vols are easing 11 percent to 59 and open interest in the contract, which is falling 75-cents out-of-the-money, is 35,950 and the largest block of OI in the name. The company said today that it will report earnings on the morning of Jun 29.
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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.