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Cofounder, OptionMonster.com
KB Home is up nearly 6 percent along with heavy options activity, as traders may be thinking that housing prices are finally hitting bottom.
The homebuilder has averaged volume of just over 3,000 calls a day in the last two weeks but traded more than 10,500 contracts in the first hour of the session Tuesday morning. The bulk of the trade was a large bull call spread, in which the buyer grabbed about 3,000 June 15 calls and sold about 5,000 of the June 17.50 calls for a net of $1.10.
KBH stock [KBH
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Disclosures:
I'm long stock and options in KBH.
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Options Education:
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Top Home Builders:
DR Horton [DHI
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Toll Brothers [TOL
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Centex [CTX
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Pulte Homes [PHM
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Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.com.
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Data is a real-time snapshot *Data is delayed at least 15 minutes