Lenny And Squiggly

Lennar is forming a massive topping pattern, signaling a major bearish reversal for the homebuilder.

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Source: DepositPhotos

This is a follow-up to my post describing my bearishness against homebuilder Lennar (LEN). This massive topping pattern is behaving itself beautifully:

slopechart_LEN-1.jpg

I have deliberately picked in-the-money, long-dated put options for this one. I own January 2027 $100 puts, and they’re presently up 7%, and given the long-term chart shown below, I have greater ambitions than this: my price target for LEN is too low to mention.

slopechart_LEN-1-1.jpg

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