Bullish Breakout on Home Depot & Homebuilders
On Friday's Options Action, the crew analyzed the performance of the homebuilder's sector. After selling off substantially since Jan, this sector has started to turn bullish again just this week. Looking for a bounce higher, HD is the large-cap name in this sector that would attract institutional investors. Coupled with cheap fundamental valuations and bounce off a bullish trendline, HD has upside to run. Expecting HD to trade higher, Michael Khouw suggests buying a July 200 Call for a $3.25 Debit. As of Friday's close, this option is trading at $3.60.
We've structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience.
View this OptionsPlay on HD - app.optionsplay.com/
We've structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience.
View this OptionsPlay on HD - app.optionsplay.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.