D.R. Horton (DHI) Protective Put Calculator
Calculator · free · no signup · DHIPrice a protective put, zero-cost collar, or put spread on D.R. Horton. Annual cost, max loss, upside cap, tax treatment, auto-filled from current DHI option chain.
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You priced one hedge. The beta picks the right hedge structure given your full equity stack and tax situation.
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About D.R. Horton
D.R. Horton (DHI) is a public Real Estate company, incorporated in Delaware and headquartered in Arlington, TX.
Last close: $135 per share (as of 2026-10-03).
Equity grants at D.R. Horton typically include restricted stock units (RSUs).
D.R. Horton, Inc. is an American home construction company based in Arlington, Texas. Since 2002, the company has been the largest homebuilder by volume in the United States. The company ranked number 120 on the 2024 Fortune 500 list of the largest United States corporations by revenue. The company operates in 125 markets across 36 states.
Source: Wikipedia (CC BY-SA 4.0)
Donald Horton built the company from a single Texas market in 1978 into the largest homebuilder in the United States by volume, concentrating on entry-level and first-move-up buyers. Homebuilding is inventory management under interest-rate risk: land is purchased years ahead and homes are built into demand that mortgage rates can change abruptly. Mortgage rate buydowns funded by the builder have become a routine sales tool. Land option contracts limit capital tied up in raw ground. Headquarters are in Arlington, Texas.
Sources: sec.gov · en.wikipedia.org
Equity comp at D.R. Horton
- D.R. Horton's restricted stock units awarded to executive officers use double-trigger vesting: unvested RSUs accelerate (vest immediately) only if two things both happen, a change in control (the company being acquired or merged) occurs, and within 24 months afterward the executive is terminated without cause or resigns for good reason. A change in control by itself does not accelerate vesting. D.R. Horton's named executive officers do not have separate employment, severance, or change-in-control agreements; any additional payments beyond the double-trigger RSU vesting are at the Compensation Committee's discretion.
- RSUs use double-trigger vesting. Two things must both happen before the shares are yours: (1) the normal time-based vesting completes, and (2) the company has a liquidity event (an IPO or an acquisition). Until both happen, you do not yet own the shares and you do not owe tax on them.
Sources: sec.gov · investor.drhorton.com
Researched 2026-08-21.
OptionsAhoy is an independent tool and is not affiliated with, endorsed by, or sponsored by D.R. Horton.
A protective put caps your downside on the DHI position at a chosen floor; a zero-cost collar pays for that floor by capping the upside. This calculator prices both structures off the current DHI option chain, with annual cost, max loss, and tax-treatment notes.
Example: a 5,000-share DHI position at $135 is worth $675,000. A 1-year 30%-OTM put on that position typically runs 2-4% of position value per year (about $13,500 to $27,000) before any premium offset from a short call. The calculator prices both structures off DHI's current option chain so you see the actual cost for your chosen floor, tenor, and cap.
All D.R. Horton tools → · Use the generic Protect Your Stock Calculator for any company.
D.R. Horton equity questions
- How much does it cost to hedge DHI stock?
- The cost of a protective put depends on how far below the current price you set the floor, how long the protection lasts, and DHI's option-implied volatility. A zero-cost collar lowers that cost by selling away some upside. The calculator above prices both structures off the current DHI option chain and shows the annual cost, maximum loss, and tax treatment.
- Does D.R. Horton grant ISOs, NSOs, or RSUs?
- Equity compensation at D.R. Horton typically takes the form of restricted stock units (RSUs). Restricted stock units are taxed as ordinary income when they vest.
- Do D.R. Horton RSUs use double-trigger vesting?
- Yes. D.R. Horton restricted stock units (RSUs) vest only when two things both happen: the time-based schedule completes, and the company has a liquidity event such as an initial public offering (IPO) or an acquisition. Until both occur you do not own the shares and owe no tax on them.
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