Homebuilders into Earnings: LEN RYL

I’ve posted two daily charts of the spread between LEN and RYL. The upper chart is a zoomed view of the long term lower chart.  I was very bearish on this spread in the last month, but I’m flat into earnings.  Earnings are unpredictable as is, but there also appears to be some very active options activity in LEN. I’m staying away, for now.

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