Lennar Stock Pops on Hiked Dividend, Buyback Program

LEN added almost 60% over the past 12 months

Digital Content Manager
Jan 10, 2024 at 10:43 AM
facebook X logo linkedin

Lennar Corp (NYSE:LEN) lifted its annual dividend to $2 per share from $1.50, and also raised its stock buyback program by $5 billion. LEN was last seen up 3.6% to trade at $153.56, and earlier came even closer to its Dec. 15 all-time high of $156, after staging a bounce off the $144 level last week. Over the past 12 months, the security added almost 60%.

The options pits are seeing increased bullish activity in response. So far today, 2,350 calls have been traded, or double the intraday average amount. Most popular is the weekly 2/9 157.50-strike call, with positions opening there.

Options traders have been extremely bullish of late. This is per LEN's 10-day call/put volume ratio of 1.77 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) that sits higher than all but 2% of readings from the past year.

Options are attractively priced, making now a good time to weigh in on LEN's next moves. This is per the security's Schaeffer's Volatility Index (SVI) of 25%, which ranks in the 13th percentile of its annual range. This means options traders are currently pricing in low volatility expectations.


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 C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI