Who said home builders won’t do well as an investment? Toll Brothers Inc. (NYSE: TOL) is soaring on exponential trading volume today. We have seen almost 5X volume in the stock as at 2:10 PM EST there have been 17.2 million shares versus less than 4 million on average. The gain is to $21.10 and teh 52-week range is $13.55 to $24.30. But here is the call options and put options trading for the NOV-2009 expiration:
CALL$   Volume   OpInt
$18.00Â Â Â 1,421Â Â Â 6,094
$19.00Â Â Â 2,849Â Â Â 7,896
$20.00Â Â Â 1,387Â Â Â 10,712
$21.00Â Â Â 3,210Â Â Â 12,640
$22.00Â Â Â 2,541Â Â Â 1,127
PUT$   Volume   OpInt
$20.00Â Â Â 3,781Â Â Â 5,840
$21.00Â Â Â 1,329Â Â Â 397
This is on heels of a Wells Fargo upgrade AND on its guidance that new contracts are up 42% and fourth quarter revenue will beat analyst estimates at $486.6 million. To put this in perspective from a 2008, this is way above the $386+ million estimate from Thomson Reuters. But it is also far south of a year ago’s $691 million in revenues for the same quarter.
JON OGG
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