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Active trading in First Solar short-term calls as shares see relative strength.

Active trading in First Solar short-term calls as shares see relative strength. The stock up $2 to $74.80 and 3K May 76.5 calls trade for 98c when bid-ask was 87 to 98c while, at the same time, 3K May 77.5 calls for 60c when bid-ask was 44 to 60c. 2.5K May 72.5 puts also traded today. Total volume is 12K calls and 4.6K puts. May contracts, which expire at the end of the week, account for 70% of the flow. The interest comes after shares rallied on 5/9 on reports California voted to require solar power on new homes and then the stock added to the gains on 5/10 after JP Morgan upgraded FSLR to OverWeight.

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Publication:The Fly
Date:May 14, 2018
Words:124
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