Options Traders Stay Bullish on Solar Stock

Shares are back below the 40-day moving average

Digital Content Manager
Aug 7, 2023 at 3:17 PM
facebook X logo linkedin


Sunrun Inc (NASDAQ:RUN) stock is down 0.8% to trade at $17.41 at last check, as it continues to cool off from a post-earnings surge. The company reported better-than-expected second-quarter profits last week, but revenue missed the mark. Though the shares moved up to the $22 region after the results, they quickly slipped back below their 40-day moving average. Year-over-year, RUN is down 47.7%.

RUN 40Day

The results caused quite the stir in the options pits. In fact, RUN made it to Schaeffer's Senior Quantitative Analyst Rocky White's list of S&P 400 (SP400) stocks that attracted the highest weekly options volume in the last 10 days. The equity saw 232,781 calls and 107,681 puts exchanged. The weekly 8/4 20-strike call was the most popular contract by far.

MAO 0807

 

Longer term, options bulls have ruled the roost. This is per Sunrun stock's 50-day call/put volume ratio of 2.48 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 94% of readings from the past 12 months.

Meanwhile, short sellers have been piling on. Short interest is up 8.3% in the last two reporting periods, and the 37.19 million shares sold short make up 17.7% of the stock's available float. It would take almost one week to buy back these bearish bets, at RUN's average pace of daily trading. 

 

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