S&P and Nasdaq Climb to New Highs Again

First Solar options traders could be betting on more upside

by Josh Selway

Published on Dec 26, 2019 at 12:00 PM

The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are grinding to new highs again, and the Dow Jones Industrial Average (DJI) is also higher, as stocks continue to rally into the new year. With the Nasdaq looking for a 10th consecutive record close, traders are monitoring more trade buzz and this morning's jobless claims update that matched expectations. Bulls are also cheering upbeat e-commerce sales data for the holiday season, though trading volumes remain somewhat thin during the holiday-shortened week.

Continue reading for more on today's market, including:

midday market stats dec 26

One name seeing unusual options trading is First Solar, Inc. (NASDAQ:FSLR), due to 9,600 contracts traded at the weekly 1/24 63-strike call. For comparison, fewer than 600 contracts have crossed at the next most popular option. It looks like traders are buying to open positions, betting on more upside from FSLR shares in the coming weeks. The solar stock has been rising with the broader markets, setting its sighs on the just-above 200-day moving average.

fslr stock dec 26

Accenture Plc (NYSE:ACN) was hot out of the gate, but was last seen up just 0.2% at $211.87, after the stock received bullish analyst attention today. The shares are earlier nabbed a record high of $212.12, and set to close 2019 up 50%.

One stock moving lower is Microbot Medical Inc (NASDAQ:MBOT), giving up some of its recent gains due to a discounted stock offering priced at $10.50 that was a 35% discount to its Christmas Eve closing perch of $16.28. The equity was last seen trading down 16% at $13.67, after peaking at $20.15 in Tuesday's trading.



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