Schaeffer's Trading Floor Blog

Stocks to Watch Friday: SolarCity Corp, Texas Instruments Incorporated, and Visa Inc

Analyzing SCTY, TXN, and V ahead of tomorrow's trading

by 3/13/2014 4:45 PM
Stocks quoted in this article:

Momentum names that made notable moves on Thursday and could continue to do so into Friday's session include alternative energy concern SolarCity Corp (NASDAQ:SCTY), semiconductor name Texas Instruments Incorporated (NASDAQ:TXN), and credit card giant Visa Inc (NYSE:V). Here is a quick look at these stocks ahead of tomorrow's opening bell.

SolarCity Corp (NASDAQ:SCTY)

A day after taking a big bounce off of its ascending 50-day moving average -- and announcing a partnership to sell solar panels in select Best Buy Co., Inc. (NYSE:BBY) stores -- SolarCity gave up 5.6% to close at $74.08. Nevertheless, the shares managed to finish above the aforementioned trendline following a brief dip below it, suggesting the technical support may carry into future sessions. In the options pits, SCTY calls outnumbered puts by a nearly 2-to-1 margin; however, several of the most active strikes appear to have seen significant sell-to-open activity.

Texas Instruments Incorporated (NASDAQ:TXN)

Texas Instruments hit a new 13-year high of $46.78, after announcing plans to return more cash to shareholders. However, the stock quickly slid into negative territory along with the rest of the major market indexes, and finished with a 3.1% loss at $44.99. Meanwhile, options changed hands at almost three times the typical daily pace, with puts outpacing calls. This bearish bias is par for the course when it comes to TXN options activity. The stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio checks in at 9.24, indicating traders have bought to open more than nine puts for every call in the last two weeks. The ratio is just 12 percentage points from an annual acme, as well, meaning speculators have picked up TXN puts over calls at a faster-than-usual pace of late.

Visa Inc (NYSE:V)

Visa shed 2.4% during the course of the session to land at $220.78. As such, the shares found themselves looking up at their 40-day moving average for the first time since March 3. Nevertheless, that didn't stop option bulls from placing bets on the credit card company during the busier-than-usual session. The most active strike was the April 225 call, which experienced buy-to-open activity as optimistic traders wagered on a short-term rebound in the shares.

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