[Buying Puts on Kb Home (KBH)/Buying Jan 75 Puts (KBHMO)/Day Order/Limit $7.80]
Dear Member,
I am preparing to enter an order to buy the Jan 75 Puts on Kb Home (KBH). The stock broke down through the 50 day moving average on Friday on very high volume. The many of the stocks in the homebuilding sector performed in similar fashion indicating weakness to me. I am placing an order to buy the Jan 75 Puts (KBHMO) for a limit of $7.80 for the day. My exit will be a close above the 50 day moving average.
DISCLOSURE: At the time of publication, I have no position in the referenced options or the underlying stock.
Sincerely,
Bill Kraft for
CutLoss, Inc.
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