[Buying Puts on Pulte Homes (PHM)/Buying Jan 84 Puts (PHMMQ)/Day Order/Limit $8.50]
Dear Member,
The homebuilders continue to sink and Pulte (PHM) is both below the 50 day moving average and has broken a little price resistance. I am placing an order to buy the Jan 85 puts (PHMMQ) for $8.50. My initial exit would be on 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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