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Option Clips: Pandora Media Inc, Yingli Green Energy, and JA Solar

Reviewing notable options activity on Pandora Media Inc, Yingli Green Energy Hold. Co. Ltd. (ADR), and JA Solar Holdings Co., Ltd. (ADR)

by 1/7/2014 1:38 PM
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Three equities drawing attention from options traders today are streaming radio issue Pandora Media Inc (NYSE:P), as well as solar power concerns Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) and JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO). Here's a look at how traders have been aligning their speculative bets today.

  • Pandora Media Inc (NYSE:P) ran to a record high of $33.70 earlier, but has since pared a portion of these gains to linger near $33.44. In spite of this, the most active contract in P's options pits today is the January 2014 32-strike put, where 3,008 contracts have been exchanged, mostly at the ask price. Implied volatility (IV) is up, and volume exceeds current levels of open interest, pointing to buy-to-open activity. Considering P has more than tripled over the past 52 weeks, a portion of the activity at this out-of-the-money strike could be the result of shareholders hedging against a near-term pullback.

  • Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) is more than 9% higher today, following reports the alternative energy issue has inked a solar panel deal with China National Nuclear Corporation. At last check, the stock was trading at $7.15, but some speculators today are eyeing bigger gains over the next several weeks. Nearly all of the 5,767 January 2014 8-strike calls traded have done so on the ask side, IV has ticked higher, and volume is outstripping open interest, pointing to the initiation of a fresh batch of bullish bets.

  • JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) is another solar stock sitting in the green today, with the shares up 5.9% to $10.34. In the equity's options pits, the March 10 call has emerged as a crowd favorite. Roughly 7,700 contracts -- including one large lot of 4,094 -- have crossed the tape here, 95% of which have been exchanged at the ask price. Only 1,969 calls currently reside at this strike, making it safe to assume that new bullish positions are being initiated. Based on present trading levels, the calls are in the money; however, breakeven for today's traders is $11.36, or the strike plus the volume-weighted average price of $1.36.


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