Breaking Down Today's Big SunPower Corporation (SPWR) Spread

SunPower Corporation's January 2015 series of options has been popular today

Digital Content Group
Nov 20, 2014 at 2:41 PM
facebook X logo linkedin


SunPower Corporation (NASDAQ:SPWR) is up 3.7% this afternoon, after last night announcing restructuring measures that will cost up to $25 million. At last check, the stock was sitting at $29.12. Meanwhile, activity in the options pits is running fast and furious -- especially on the call side, where intraday volume more than doubles the expected amount.

Getting into the details, the three most active options are the January 2015 29- and 32-strike calls, and the 27-strike put. It appears a bullish spread totaling 7,000 contracts is being opened at the two call strikes, while a number of puts are being sold to open to help finance the spread. In other words, the trader expects SPWR to rally up to $32 over the next two months.

Taking a step back, it's been a tough year for SunPower Corporation (NASDAQ:SPWR). Even after today's gains, the shares are in negative year-to-date territory, and have underperformed the broader S&P 500 Index (SPX) by almost 28 percentage points during the past three months. As a result, traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have been upping the bearish ante in recent weeks.

 

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