Analyst Upgrade Draws Call Traders to Solar Stock

Calls are running at triple the intraday average

Digital Content Manager
Mar 20, 2023 at 10:16 AM
facebook X logo linkedin


Enphase Energy Inc (NASDAQ:ENPH) stock is getting a jolt this morning, last seen up 6.6% at $195.79, after Raymond James upgraded it to "outperform" from "market perform." Plus, the brokerage set a price target of $225 that is a 22.5% premium to the security's last close, noting its free cash flow yield of 4% makes capital returns possible "for the first time ever." The analyst in question also praised the solar concern's expansion into European markets.

Options bulls are already blasting ENPH, with 12,000 calls across the tape so far -- triple the intraday average -- compared to just 5,116 puts. Most popular is the weekly 3/24 200-strike call, followed by the June 310 call, with new positions now being opened at both. 

This penchant for bullish bets has been the norm for quite some time, per ENPH's 50-day call/put volume ratio of 1.44 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 92% of readings from the past year. 

Enphase Energy stock is still trading firmly below the 20-day moving average, after last week slipping to its lowest level since July. The shares could snap a three-day losing streak today, however, and are clinging to a 6.1% year-over-year gain despite shedding 26.7% so far in 2023.
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI