Stocks On the Move: JinkoSolar Holding Co., Ltd., Trina Solar Limited (ADR), and Omega Protein Corporation

JKS, TSL, and OME are moving sharply in Tuesday's trading

Nov 18, 2014 at 12:02 PM
facebook twitter linkedin


Around midday, three of the top market movers are alternative energy issues JinkoSolar Holding Co., Ltd. (NYSE:JKS) and Trina Solar Limited (ADR) (NYSE:TSL), as well as fish oil producer Omega Protein Corporation (NYSE:OME). Here's a quick roundup of how JKS, TSL, and OME are performing on the charts so far.

  • JKS has rallied 5.4% to $22.04, having just secured a $225 million private equity deal for the spinoff and listing of its downstream business Jinko Power. Despite the move higher, the shares remain about 25% lower on a year-to-date basis, and earlier today ran into resistance at their 10-day moving average. Nevertheless, call buyers have been circling JinkoSolar Holding Co., Ltd. in recent months, per the stock's 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) call/put volume ratio of 5.65. Not only does this reading indicate nearly six calls have been bought to open for every put over the last 10 weeks, it also ranks higher than 86% of similar readings from the past year. Looking ahead, JKS will report quarterly earnings this Thursday morning, and is expected to post a per-share profit of 71 cents.

  • TSL is up more than 4% at $9.92, amid a sector-wide rally in solar stocks -- powered by major developments at JA Solar Holdings Co., Ltd. (NASDAQ:JASO) and SunEdison Inc (NYSE:SUNE). Still, shares of Trina Solar Limited (ADR) have struggled on a longer-term basis, underperforming the broader S&P 500 Index (SPX) by roughly 30 percentage points over the past three months. Accordingly, traders at the ISE, CBOE, and PHLX have been buying to open puts over calls at a rapid-fire rate recently, per TSL's 10-day put/call volume ratio of 1.44, which ranks in the bearish 98th percentile of its annual range. Fundamentally speaking, the company will step up to the earnings plate next Monday morning, with the Street forecasting a profit of 15 cents per share.

  • OME has tumbled nearly 17% around midday at $12.45, bringing the shares close to their year-to-date breakeven mark. Pressuring the stock are its poorly received third-quarter results, which include top- and bottom-line misses. The gap lower is likely music to the ears of recent options traders. Specifically, Omega Protein Corporation's 50-day ISE/CBOE/PHLX put/call volume ratio of 2.29 rests just 3 percentage points from an annual high. In other words, option players have rarely preferred bearish bets over bullish as much as they have of late.
 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Best stocks for October and worst stocks for October
 


 


 
Special Offers from Schaeffer's Trading Partners