While there is no Income Masters Live Trading Session being held today, we are going to put on a new trade in my favorite homebuilder, D.R. Horton (DHI).
Data released this morning showed mortgage applications rose 2% last week, hitting their highest level since April. This is a good sign for September home sales and homebuilders like DHI.
I am recommending we sell a put that expires next week.
Current Stock Price: $89.21
Action: Sell to open the DHI Oct Week One (10/1) 88 Put for around $1.21. You can go as low as $1.10, but please don’t start there and always use limit orders.