Pressure On Toll Brothers Not Likely To Abate Soon; Traders Signal For More Downside

Toll Brothers Inc TOL is scheduled to report its second-quarter results on Tuesday.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Toll Brothers traded more than 2.9 times its average daily volume on Monday. The options market is implying a move of around 7% by the end of the weak, higher than the 5% average over the past eight quarters, he added.

Check out other stocks making moves in the premarket.

There were buyers of 1,000 weekly 46-puts at an average price of $1.55 per contract, Khouw mentioned. Traders expect shares of Toll Brothers to decline after the earnings report, he added.

Also Read: Bill Gates Gives Sendoff To Fauci: 'You Are A Hero To Millions, Including Me'

TOL Price Action: Shares of Toll Brothers fell by 3.76% to settle at $45.53 on Monday.

Market News and Data brought to you by Benzinga APIs
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: Short IdeasOptionsMarketsMediaTrading IdeasCNBCMichael KhouwOptimize Advisors
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...