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Pulte Homes plunged to a new multi-year low today, after our OptionMonster tracking systems showed strong institutional put buying yesterday.
As a result, we didn't even have the trade on for 24 hours before PHM [PHM
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] took that 12 percent dive, making our puts — which, of course, are the right to sell — much more valuable. The shares fell from over $8 yesterday to $6.53 today, yielding a handsome profit on the December 7.50 puts that we had flagged for their unusual activity in the previous session.
Tells like that are wonderful, as they show us where the fast and smart money is hunting. I'll use some of that profit for a bankroll as I head to Las Vegas Friday, to give a presentation for the "Money Show" at the Mandalay Bay.
(By the way, if you'd like a free week of OptionMonster service, I'll offer you the same deal that I'm offering the crowd in Vegas: Just send an email to mikeb@optionmonster.com with "Las Vegas" in the subject line, and we'll email you a password. No gamble there!)
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Pulte Homes' Rivals:
KB Home [KBH
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DR Horton [DHI
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Lennar [LEN
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Toll Bros. [TOL
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Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.
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Data is a real-time snapshot *Data is delayed at least 15 minutes