News at home and abroad is helping to buoy JinkoSolar Holding Co., Ltd. (JKS), Yingli Green Energy Hold. Co. Ltd. (ADR) (YGE), and Trina Solar Limited (ADR) (TSL)
News that China has instituted
a fresh round of easing measures has not only helped to lift the broader equities market, but also shares of U.S.-listed China-based stocks. Combining this with the recently released details of
President Barack Obama's clean energy initiative, and solar stocks
JinkoSolar Holding Co., Ltd. (NYSE:JKS),
Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE), and
Trina Solar Limited (ADR) (NYSE:TSL) are having quite the day.
JKS, for example, has surged 26% to $19.78 to
nab a highly sought-after spot on the Big Board -- and is attempting to make a move north of its year-to-date breakeven mark after hitting a nearly two-year low of $14.32 yesterday. The bull gap has sparked a rush of call activity in the security's options pits, with the contracts crossing at four times the average intraday pace. Drilling down, it looks like some speculators are betting on a round-number breakout over the next several weeks, buying to open JinkoSolar Holding Co., Ltd.'s September 20 calls.
YGE, meanwhile, has jumped 9.3% to trade at $0.87. The stock remains a long-term laggard, though -- most recently
pressured by China's volatile price action -- down 63% in 2015. In the options pits, short-term speculators have shown a preference for
calls over
puts, per Yingli Green Energy Hold. Co. Ltd.'s Schaeffer's put/call open interest ratio (SOIR) of 0.47 -- which sits lower than 95% of all similar readings taken in the past year.
TSL has tacked on 13% to linger near $8.75, but is still 6% lower year-to-date. Along with sector peers SolarCity Corp (NASDAQ:SCTY) and Sunedison Inc (NYSE:SUNE), the stock
bounced off a notable milestone yesterday (a two-year low of $7.15, to be specific). Short sellers have more than likely been keeping a close eye on this whipsaw price action. Short interest accounts for 15.3% of the stock's available float, or 6 times Trina Solar Limited's average daily pace of trading.
Looking elsewhere, this rally in solar stocks has spread to North America-based names, as well. First Solar, Inc. (NASDAQ:FSLR), for instance, is up 6% at $46.28, following
a steep three-day sell-off, Canadian Solar Inc. (NASDAQ:CSIQ) has jumped 10.4% to $17.97, thanks to
a bullish brokerage note, and a big purchase by Elon Musk has helped give SCTY a 1% boost to $44.32.