The Best Homebuilding Stock to Own This Month

PHM has a history of positive monthly returns in November

Deputy Editor
Nov 13, 2023 at 12:53 PM
facebook X logo linkedin

There's been plenty of speculation regarding homebuilding stocks as construction spending and mortgage rates jump. The grim outlook for existing homes has pushed buyers towards new constructions, and Pultegroup Inc (NYSE:PHM) is reaping the rewards, up 84.8% over the last 12 months. Though shares were last seen 0.4% lower at $82.04, there's reason to believe that PHM still has a solid path higher.

This is due to the fact that Pultegroup stock is halfway through a historically bullish month. per data from Senior Quantitative Analyst Rocky White, the equity is one of the best-performing stocks on the S&P 500 Index (SPX) when looking at the last 10 years. Securing second place on White's list, PHM averaged a November return of 7.2% in the last decade, finishing the month with a positive 100% of the time. The equity is already outperforming its historical gains, up 11.4% in November, with more than two weeks left in the month.

SPX Best of November 132023

On the charts, the stock just bounced from a late-October post-earnings dip. Now trading in a range between the $80 and $84 area, Pultegroup stock has neared its mid-August record highs just above the $86 level.

An unwinding of short-term options traders' pessimism could provide some tailwinds. This is per PHM's Schaeffer's put/call open interest ratio (SOIR) of 1.18 that ranks in the 74th percentile of readings from the past 12 months, suggesting a bearish bias amongst these traders.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI