Pulte Homes (PHM) is up 32 cents to $9.96 and implied volatility is falling the day after the co. announced plans to acquire Centex (CTX). Options volume is running 2X the average daily levels, with 12K puts and 8,700 calls traded. May 10 puts are the most actives and the volume includes a block of [...]
Seeing similar trading in two of the homebuilders early. DR Horton (DHI) is down 16 cents to $10.77 and recent trades include 6000 April 10 puts at the offer for 75 cents and 3000 May 12.5 calls on the bid for 90 cents. Centex (CTX) is down 26 cents to $8.83 and recent trades include [...]
Homebuilder Lennar (LEN) is up 91 cents to $10.34 on the heels of today’s strong home sales numbers (see 10:05 color) and ahead of earnings on March 31 (before market–Briefing). In the options market, volume is running at 3X the normal levels. The top trade of the day is a block of 11,400 April 10 [...]
Ryland Group shares are near $16.79 and a customer looks to have locked in recent gains with a protective collar trade on the ISE. Buyer paid 83.5cents for 5000 July 10 Puts against a sale of 2500 July 22.5 calls for $1.32.
Put volume in thinly traded Brookfield Homes Corp is unusually high this morning, with more than 3000 downside puts trading in the first hour of the day in downside 2.5 strikes in June and Sept. Data shows a buyer paid 25 to 35cents for 2000 June 2.5 puts on the CBOE when shares were near [...]
Homebuilder Lennar (LEN) puts are actively tarded. Shares are up 18 cents to $6.27, perhaps in sympathy with Toll (TOL), which gained 11.5 percent on earnings news. In the options market, sentiment in LEN seems bearish, as 12,000 puts have already traded and that represents 67X (6710 percent) the expected for the first 30 min [...]
Toll Brothers (TOL) Mar 15 calls are active ahead of tomorrow morning’s earnings release. Recent trades include 11K contracts at the offer for 95 cents. Looks like a buyer opening a new position. Shares are down 89 cents to $14.40 and 18.7K Mar 15 calls traded, compared to open interest of 1,772.
KB Homes (KBH) call volume is running at almost 9X (877 percent) the expected for this time of day. Shares are up 28 cents to $9.48 and Mar 10 calls are the most actives. 2,508 traded, compared to open interest of 1,180. Looks like call buyers dominating the action.
Bullish early flow in D R Horton this morning, with shares bouncing off an early low and currently unchanged at 7.54. Feb 7.5 call buyers swept more than 2000 contracts that for 15cents in a short term play.
Homebuilder Ryland (RYL) is up 69 cents to $18.47 and options volume is running at 6X the average daily after an investor bought the Feb/March 17.5 put spread for $1.10, sold 12,500 Feb 12.5 puts for a nickel and bought 10,000 March 15 puts for 85 cents. Looks like a roll of puts from Feb [...]