Energy Conversion Devices (ENER) and a handful of other solar names (FSLR, LDK, SPWR, STP) are showing relative strength Friday after German lawmakers ironed out an agreement to reduce state subsidies. Existing rules obligate utilities to buy electricity from solar companies at above market rates, but the reductions in those subsidies announced today were not as dramatic as many investors feared. A sort of relief rally is pushing the sector higher and shares of Energy Devices are up $6.43 to $61.13. 13,000 ENER calls have traded, compared to 7,186 puts.