PHM is on track for its best single-session gain since early 2023
One of the sneaky-best exchange-traded funds (ETFs) today is homebuilder sector-based iShares U.S. Home Construction ETF (ITB), last seen up 3.3% to trade at $90.39. Doing most of the heavy lifting is PulteGroup, Inc. (NYSE:PHM), after the homebuilder reported a first-quarter earnings and revenue beat. CEO Larry Mastrovich also noted that they expect tariffs to have a 1% impact on average sale price, with the hits coming by the fourth quarter.
At last check, PHM was up 8.1% to trade at $100.68, on track for the equity's best single-session gain since January 2023. The shares have been carving a channel of lower lows since an Oct. 21 all-time high of $149.47, and are today testing their 50-day moving average, a trendline that's served as pressure since November. Year-to-date, the stock's deficit is down to 7.7%.
PHM options traders have been targeting puts with gusto. This is per PHM's 10-day put/call volume ratio of 1.90 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), that ranks in the 78th percentile of its annual range. This indicates a much healthier-than-usual appetite for long puts of late. Echoing this, the stock's Schaeffer's open interest ratio (SOIR) of 1.47 sits in the 81st percentile of its annual range, meaning short-term option traders have rarely been more put-biased.
Today, despite the gain, is more of the same. At last check, over 2,300 puts have changed hands, volume that's double the average intraday amount and triple the number of calls exchanged. The weekly 5/2 93-strike is the most popular, with new positions being
sold to open. A January 2026 95-strike
LEAPS trade is also seeing notable attention.