Calls Purchased on The Home Construction Fund (ITB)

Shares of the iShares Dow Jones US Home Construction Index Fund (NYSE: ITB) are higher on the session by 1.01%, currently trading at $12.02. The ETF has been moving largely lower over the past five months, though looks like it may have initiated a bottoming pattern in late August.

Options traders are picking up upside calls on the ETF as well. Just moments ago the October $12.50 strike was purchased 4,000 times, on the offer, on open interest of 386 contracts. This has pushed call volume to 17.25x the daily average.

100% of all calls traded have been purchases on the offer.

The iShares Dow Jones US Home Construction Index Fund seeks investment results that tracks Dow Jones U.S. Select Home Construction index. The fund invests at least 90% of assets in securities of the underlying index and in depositary receipts representing securities of the index. The underlying index measures the performance of the home construction sector of the U.S. equity market. It includes companies that are constructors of residential homes, including manufacturers of mobile and prefabricated homes. The companies selected for inclusion in the underlying index must meet minimum market capitalization and liquidity requirements. The fund is nondiversified.

For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.