Toll Brothers (TOL) NewsBite - TOL Rises on Mortgage Data

Posted: Wednesday, July 15, 2009 11:21 AM EDT

Toll Brothers (NYSE: TOL) opened at $16.44. So far today, the stock has hit a low of $16.33 and a high of $16.90. TOL is now trading at $16.88, up $0.81 (5.04%). Over the last 52 weeks the stock has ranged from a low of $13.55 to a high of $28.00. TOL shares are trading higher with other homebuilders this morning after the Mortgage Bankers Association said U.S. mortgage applications rose 4.3% last week, helped by lower interest rates. This could be a good sign for TOL. Technical indicators for the stock are bullish and S&P gives TOL a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on TOL the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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