LEN options 08//19/24 near $3.30 ($3.90 open) – 5 days later $10.85 =  228%

My Reasoning:

My Trade Plan Details:

• IWM Aug 2 $220 calls near $2.80
  
• Stop: Close IWM below $215
• Target 1: $224
• Target 2: $228

This week, I am still giving the market the benefit of the doubt that things will still climb higher.

I don’t see many charts that would suggest otherwise, but I am very cautious about opening new positions right now. This rebound rally for the market is getting extended, and I think a pullback could happen at any time… so be prepared for it!

While I think the market has more upside room to run, I don’t want to dive in to tech stocks right now.
With interest rates finally coming down, we are seeing a resurgence in home refinancing and also new home sales.

I am looking to buy my favorite homebuilder this week…

My Bullseye pick that I want to buy this week is (LEN) calls.

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price, which I list below.

If this trade doesn’t work out, I am going to use a fairly tight stop with a closing price under $168. That was the recent support from last week.

If things go my way, I think we could see LEN approach its all-time high near $180 soon, and possibly even break out past that to $185 as target #2.