Zeev's Turnips Patch-No Politics (ZEEV)

[jdaasoc]

Aren't they so political correct on Yahoo thread. <g>

What is your thoughts on home builders. Any one particular you would think of shorting. I just bought FEB 105 PUTS on CTX. I rarly buy PUTs but it just feels right since since any rate backup these housing stocks earnings will drop and no one is going to give them expanding P/E mulitples so stock is going to get chopped down to size.

Bus right back at $30. Two days before before DEC options expiry when stock was going for $30, Puts and Calls at $30 were selling for $1.70 each way. Stock ended up moving down more then the $3.40 cost by Friday.

JAN $30 CALLS and PUTS would cost $3.65 now. Stock definitely going to move more then $3.65 one way or another in next few weeks. It would be nice to see CALL buyers getting rewarded rather then the PUT buyers.