A-Power Energy looks like a bit of a short squeeze today following the China based company’s earnings report. The results were below expectations and shares were lower by about 7% in pre-market, but quickly reversed and are now up some 5% to $16.20. Option volume is 3x the daily average with the Dec $12.50 put as the most active strike, with 3,600 contracts traded and 93% bid-side, suggesting selling. Implied volatility has dropped to the 85% level from 100% yesterday. APWR had a nice run moving from $12 to $18 so shorts probably used today’s lower opening to cover. Since shares are difficult to borrow, bears could not generate selling pressure on the disappointing results.