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Homebuilders ETF Draws Call Buyers
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By Jon "DRJ" Najarian, co-founder of OptionMonster
NEW YORK (TheStreet) -- Upside option activity exploded in the SPDR S&P Homebuilders (XHB) exchange-traded fund when the market surged Thursday.
The homebuilders ETF ended the session up 4.1% to $15.38 on more than double the average daily stock volume. XHB is up 18% in the last three months.
Volume in the November 16 options ballooned to 126,799 calls, more than 17 times existing open interest at the strike. Most of the large trades priced for 25 cents to 30 cents in a strong buying pattern, according to OptionMonster's real-time tracking systems. ...
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