I don’t think I’ve found a more faithful companion in equities recently than XHB, the exchange traded fund for homebuilders. I’ve written and talked about this thing countless times, and it simply keeps chugging along beautifully.
I own January 2026 $115 puts on this, and they are up 11%. I know that isn’t a huge increase, but these are conservative puts, both in terms of ITM-ness and expiration. I simply want to give this position a ton of runway, because I think it’s going to take its sweet time hammering down to the depths I foresee.
