Shares of the iShares Dow Jones US Home Construction ETF (ITB) are down .40 to 23.29. ITB is near the middle of the 52 week range.

Today paper traded 8143 ITB Oct 24 calls for 1.45-1.50.? The ADV is 3861 contracts.? The OI is 15 contracts.

The volume went up in large and small blocks. The trade went up at and through the offer on some volume so the buy seemed pretty aggressive.? On balance the trader just wants to get long from the looks of this trade just OTM.? The paper is opening with the IV up slightly.

30-day implied volatility is 25%.? ?10-day implied volatility is 13%.? 30 day implied volatility is trading above the 10 Day Historical volatility.

iShares U.S. Home Construction ETF, formerly iShares Dow Jones U.S. Home Construction Index Fund, seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Home Construction Index (the Index).