Stocks / ETF
XHBETF
State Street SPDR S&P Homebuilders ETF
$97.071d +0.3%5d +0.2%settled close · 2026-09-17
β 1.2052w $95–116Shares 14.7MNYSE Arca since 2006
The tape, with the calls on it
Who said what, and what XHB did next
Every dot is a day someone on the record made a call. Hover one to see who. We are not scoring them — the point is that you can see it and judge for yourself.
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Who’s talkingIdea Scout · free
Who’s talking about XHB
13 long3 neutral16 shortlatest 2026-08-18
| Date | Voice | Stance | Venue | Thesis |
|---|---|---|---|---|
| 2026-08-18 | Stephanie Link (Hightower)Chief Investment Strategist, Hightower | Bearish | CNBC Halftime Final Trades | 30-year fixed mortgage at 6.8% is far above the 5–5.5% threshold needed to unlock demand, and the housing… |
| 2026-07-25 | Chris WhalenBanking analyst — Whalen Global Advisors | Bearish | Julia La Roche Show | Both PennyMac Mortgage Trust and its manager PennyMac Financial have repeatedly struggled to navigate the… |
| 2026-06-27 | Chris WhalenBanking analyst — Whalen Global Advisors | Bearish | Julia La Roche Show | Institutional overcrowding in loosely-underwritten business-purpose loans mirrors 2005 pre-GFC dynamics, and… |
| 2026-06-24 | Marc FaberEditor, Gloom Boom & Doom Report | Bullish | Wealthion | Emerging strength in homebuilders both in the US and in emerging markets signals market belief in falling… |
| 2026-06-20 | Chris WhalenBanking analyst — Whalen Global Advisors | Bullish | Julia La Roche Show | PennyMac Mortgage Trust holds almost entirely Fannie/Freddie conventional loans yielding ~16%, benefiting… |
| 2026-06-05 | Dan LoebFounder/CEO, Third Point | Short | All-In Podcast | Homebuilders face structural impairment from large land-pool commitments disguised as options, while… |
| 2026-05-30 | Chris WhalenBanking analyst — Whalen Global Advisors | Bullish | Julia La Roche Show | Absence of rate cuts is crushing mortgage origination volumes, forcing top-10 lenders into consolidation M&A… |
| 2026-05-21 | Quinn ThompsonFounder & CIO, Lekker Capital | Bullish | Forward Guidance | Broad cost inflation driven by AI data-center buildout, defense spending, and fiscal expansion is raising… |
| 2026-05-13 | Neil DuttaHead of Economics, Renaissance Macro Research | Bearish | Forward Guidance | Total building permits at recent lows, residential investment sluggish, and the energy-driven income squeeze… |
| 2026-05-07 | Michael Green (Simplify)Chief Strategist & PM, Simplify | Bearish | Julia La Roche Show | Boomers are beginning to be forced sellers (assisted living, mortality) while younger buyers are priced out… |
Show all 32 mentions
| Date | Voice | Stance | Venue | Thesis |
|---|---|---|---|---|
| 2026-04-18 | Chris WhalenBanking analyst — Whalen Global Advisors | Bullish | Julia La Roche Show | Mortgage REITs and related platforms offer scarce income in an inflationary environment where traditional… |
| 2026-04-16 | Tyler NevilleTrader, Muddy Waters Capital | Neutral | interview | Demographic imbalance (more supply as boomers eventually sell their equity-heavy homes) will suppress… |
| 2026-04-11 | Chris WhalenBanking analyst — Whalen Global Advisors | Bearish | Julia La Roche Show | Mortgage rates remain elevated due to a higher 10-year Treasury driven by inflation, war risk, and deficit… |
| 2026-03-25 | Scott GrannisPublisher, Calafia Beach Pundit | Bearish | Calafia Beach Pundit (Scott Grannis) | Rising 30-year mortgage rates combined with a surge in new homes for sale tips supply/demand such that real… |
| 2026-01-16 | Cathie WoodCEO & CIO, ARK Invest | Bearish | CNBC Television | Home builders like KB Home are cutting prices by 7% and others are following, signaling deflationary housing… |
| 2025-11-29 | Bill AckmanCEO, Pershing Square | Bullish | Unreleased Podcast | Housing shortage is a structural supply deficit that generates demand for homebuilders independent of the AI… |
| 2025-11-11 | Barry SternlichtChairman/CEO, Starwood Capital | Bullish | CNBC Television | Declining supply (apartment starts down 65%), falling interest rates, and deteriorating homeownership… |
| 2025-10-22 | Melody WrightHousing analyst | Bearish | Lacy Hunt | Oversupply from continued excessive building (e.g., Dallas developments likely to remain vacant) points to a… |
| 2025-10-03 | David EinhornFounder, Greenlight Capital | Bullish | interview | Companies trading at 5-6x earnings with clean balance sheets return capital via dividends and buybacks… |
| 2025-09-25 | Lyn AldenIndependent macro strategist | Neutral | Natalie Brunell | Structurally higher mortgage rates prevent a new refinancing cycle and meaningful price appreciation, leading… |
| 2025-09-19 | Matt MorseCIO, Grimes & Company | Bullish | Wealthion | Housing-related stocks are leading the data higher, signaling a coming pickup in housing activity driven by… |
| 2025-07-02 | Michael BatnickManaging Partner, Ritholtz Wealth | Bearish | The Compound | Mortgage rates sustained at 6.5-7% for an extended period have pushed buyers to the sidelines, making a 3-5%… |
| 2025-06-18 | Harry DentAuthor & forecaster, HS Dent | Bearish | Wealthion | Real estate is the core of this bubble — global near-zero-down borrowing inflated prices 4× in 20 years with… |
| 2025-06-05 | David RosenbergEconomist — Rosenberg Research | Bearish | Wealthion | Housing is in its own recession — qualifying income for a median-priced home is $100K while the median… |
| 2025-05-29 | Francis HuntFounder, The Market Sniper | Bearish | Wealthion | Record unaffordability at 7-8% mortgage rates, 41% of new mortgage applications already being rejected… |
| 2025-05-07 | Neil DuttaHead of Economics, Renaissance Macro Research | Bearish | Forward Guidance | Builders are sitting on the most completed unsold inventory since the financial crisis, home building… |
| 2024-11-30 | Lacy HuntChief economist, Hoisington Investment | Bearish | LifeWorthLiving | Housing affordability is at or near record lows due to pandemic-era price level spikes that monetary… |
| 2024-09-27 | Tom Lee (Fundstrat)Co-founder & head of research, Fundstrat | Bullish | The Compound | Fed rate cuts are compressing mortgage spreads toward historical norms (potentially sub-5% 30yr fixed), refi… |
| 2024-09-20 | Brook May | Bullish | Bloomberg Surveillance | A structural shortage of 7 million homes means builders gain pricing leverage in a lower-rate environment… |
| 2023-12-22 | Ed YardeniPresident, Yardeni Research | Bullish | Bloomberg Podcasts | The rolling recession that hit housing first has now passed its trough and a rolling recovery is visibly… |
| 2023-11-28 | Lyn AldenIndependent macro strategist | Neutral | Mark Moss | Fixed-rate household debt insulates homeowners from rate rises, keeping prices range-bound in nominal terms… |
| 2023-02-18 | Luke GromenMacro strategist — founder, FFTT | Bullish | More George Gammon | The current home-price surge is driven by sovereign/government capital that is effectively infinite (unlike… |
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The options tapeThe Brief · paid
Notable options days
Sessions in the last 120 where XHB’s settled options volume ran ≥ 2× its trailing 20-session baseline, or delta-dollar flow ran ≥ 2.5× — 8 of 120 sessions qualified.
The qualifying dates are the free record. Close, flow, call/LEAPS mix and the 20-session outcome — for every session below — are Brief subscriber content.
| Date | Close | RVOL | Δ$ flow ($M) | Call % | LEAPS % | +20 sess. |
|---|---|---|---|---|---|---|
| 2026-09-09 | ||||||
| 2026-08-21 | ||||||
| 2026-08-20 | ||||||
| 2026-08-19 | ||||||
| 2026-07-30 | ||||||
| 2026-07-16 | ||||||
| 2026-07-08 | ||||||
| 2026-06-24 |
+20 sess. = raw price change over the following 20
sessions — not market-adjusted; the tape tells you where to look,
not what happens next.
Today’s tape on
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