Let’s take a look at, until recently, my favorite short – – the real estate fund IYR. I still have a large position on this (June $112 puts) and the analog is holding nicely.
Here is a closer look at recent activity. I’m somewhat irked at the stock climbed Thursday and Friday, but considering how explosive a rally we’ve had (literally about four thousand points on the Dow in the span of a couple of weeks) I suppose I shouldn’t be surprised.
Incidentally, there are other ETFs out there with very similar patterns (since they are also based on homebuilding/real estate) such as XHB:
