Toll Brothers Inc TOL is scheduled to report quarterly earnings on Tuesday after the closing bell. The Street expectations are for earnings of $1.54 per share on revenues of $2.05 billion.
On CNBC's "Options Action," Mike Khouw of Optimize Advisors said the stock traded 2.5 times its average daily call volume on Monday. The market is implying a move of about 7.5%, significantly higher than the average of 4% over the last eight quarters, he added.
Check out other homebuilder stocks making big moves in the premarket.
There were buyers of 535 of the July 50 call at $2.25 per contract on average, Khouw mentioned. Traders see shares of Toll Brothers rising by by at least 12% by July expiration, he added.
TOL Price Action: Shares of Toll Brothers declined by nearly 2% to settle at $46.73 on Monday.
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