Earlier in today’s trading session a trader bought 16,000 TOL Sep 37 calls for $3.95. Over 20,000 contracts have now traded on that line and today’s option in TOL is now nearly 8 times the average daily option in the name. With trading well above the and the future cloud sloping upward we believe that TOL is setting up well for a long position.
Although I agree with your analysis on Ichimoku, the weekly and monthly chart shows that is has resistance at current level. I believe TOL should have a close above say 37 to invalidate the resistance. Thanks fot the catch here, but I will wait to see if there is sufficient momentum to run through the month resistance level