Housing Stocks' Monday Rally: Calls Lead at the Homebuilder Fund, D.R. Horton, Lennar and Home Depot (GTA Terminal Data, November 9, 2026)
Housing stocks had a strong Monday. On November 9 the homebuilders fund rose more than 3.5%, Home Depot and Lowe's traded 3% to 4% higher during the session, and the options money behind all of them leaned toward calls. For residential contractors, remodelers and the equipment fleets that serve them, a rally across the whole housing chain is a useful read on what investors expect for building activity. Here is what GTA Terminal data from Global Traders Academy showed for the session, including where the rally may be stretched.
The homebuilders fund: 78% calls on a 3.59% gain
GTA's Monday closing flow report for the homebuilders fund showed XHB up 3.59% at $105.96 on November 9. Over the session, $1.2M in options premium traded: $949K in calls and $267K in puts, so 78% of the money went into calls, with a put/call volume ratio of 0.54. The trend is up, 14% below the 52-week high, with an RSI of 65.
D.R. Horton and Lennar: three reads line up
Both big builders closed the session with the chart, the options flow and the dark pools all leaning bullish. D.R. Horton closed at $155.61, above its 20-day average of $145.37 and its 50-day average of $141.42. In GTA's D.R. Horton lineup above $145, 69% of options premium went into calls, and off-exchange volume was 1,039,052 shares, 0.9 times normal. Resistance sits at the 20-day high of $161.66.
Lennar closed at $91.58. GTA's Lennar chart and flow table from the Monday close showed 81% of premium in calls and 1,247,560 shares off the exchanges, 0.8 times normal. Its nearest support, the 20-day average at $83.52, is 9.6% below the price, and the 20-day high of $95.22 is 4.0% above. Lennar is still 32% below its 52-week high, so the rebound has room on the longer chart.
Home Depot and Lowe's: calls lead, but stretched
The home improvement retailers that supply remodelers saw the same lean. In GTA's Home Depot options tally for November 9, the stock was up 3.3% at $354.94 during the session, with $16.1M in premium: $13.3M in calls and $2.8M in puts, or 83% calls. The biggest unusual trade was 437 call contracts expiring December 18, about $90K in premium. Lowe's was up 4.1% at $233.82, with 77% of its $1.8M in premium in calls. Both carry high RSI readings: Lowe's at 75, which GTA labels overbought, and Home Depot at 70. Follow new housing stories on GTA's homebuilders fund news page.
What it means for residential contractors
Investors are betting on building activity. Calls leading across builders, retailers and the sector fund suggest the market expects steadier housing demand ahead. That supports plans to keep crews busy into spring.
Do not chase one day. High RSI readings at Home Depot and Lowe's mean a pullback would not be surprising. Base hiring and equipment decisions on your own backlog, not a single session.
Equipment demand follows starts. Mini excavators, skid steers, compact track loaders and lifts get busy when builders break ground. If you expect more lot work in spring, lining up machines before the rush avoids long rental waits.
Know the lines that matter. GTA flagged $145.37 for D.R. Horton and $83.52 for Lennar as the levels that keep the bullish picture intact. A break below them would be a reason to recheck your outlook.
A signal, not a guarantee
This is one strong session. Options bets can be hedges, the dark-pool reads were close to normal, and rallies often give back part of their gains. Treat this as a signal, not a guarantee, and not investment advice. For more on housing, see our PulteGroup and Toll Brothers post and the remodel demand look at Home Depot, Lowe's and Lennar.
Get ready for the spring building season
If you expect more lot work next year, owning your core machines can cost less than renting them month after month. BFC Equipment Loans finances compact equipment, trucks and trailers for residential contractors. See your BFC loan options for compact equipment before the season starts.
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