LEN (LEN) options memo

The Read

LEN is down 2.68% today at $85.20.

Options traders lean neutral into 2026-08-14, and neutral further out.

A move through $74.14 would change how dealers hedge this stock.

Key numbers

• Spot: $85.20
• Lean: neutral
• Nearest expiry: Fri 8/14
• Implied move: 1.9%
• ATM implied volatility: 35.6%
• Max pain: $86.00
• Pin strike: $91.00
• Gamma flip: $74.14
• Dealer positioning: SHORT GAMMA
• Call wall: $91.00
• Put wall: $86.00
• Put/call open interest: 0.623