Home Construction ETF (ITB) – Bullish Options Action Trade for Oct 8th, 2018
On Friday’s Options Action, the crew analyzed the performance of the homebuilding sector. The iShares Home Construction ETF (ITB) was the worst performing iShares ETF of 2018, after closing 2017 as the top performing ETF. ITB has reached a support level from a previous breakout and has multiple trendline support around the $33 level. Expecting a bounce higher Michael Khouw suggests buying a Jan 34 Calll for a $1.45 Debit. As of Friday’s close, this call was trading at $1.70.
We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: ITB Options Action
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