Put Traders Target Solar Stock Despite Upgrade

The analyst cited FSLR's ability to weather macro risks

Deputy Editor
Oct 12, 2023 at 11:04 AM
facebook X logo linkedin


First Solar Inc (NASDAQ:FSLR) stock received an upgrade from Barclays to "overweight" from "equal weight" before the bell this morning, though the firm also cut its price target to $224 from $230. The analyst in coverage noted that FSLR is better positioned than its peers to weather macro risks. 

The equity has trimmed its premarket gains, now down 1.6% to trade at $149.11. Several moving averages linger above as potential pressure, including the descending 20-day trendline. Quarter-to-date, FSLR is down 7.2%. 

So far in the options pits today, 6,021 puts have been exchanged -- nearly double the amount typically seen at this point -- compared to 4,108 calls. The October 150 put is the most popular, with new positions opening there. 

This shows a bit of a shift in sentiment, as calls have been popular in the options pits of late. FSLR's 50-day call/put volume ratio of 1.56 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 86% of readings from the past year. 

 

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