Housing Starts Bet Estimate

While holding a short position and being long on indices good economic news is helpful in driving the price higher and away from our strikes.

From Econoday:

“There were hardly any indications before today, but the spring housing surge is here. Today’s housing starts & permits report is one of the very strongest on record and with starts soaring 20.2 percent in April to a much higher-than-expected annual rate of 1.135 million and with permits up 10.1 percent to a much higher-than-expected 1.143 million. Both readings easily top the Econoday high-end forecast of 1.120 million for each. The gain for starts is the best in 7-1/2 years with the gain in permits the best in 7 years.”

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