First Solar shares $3.40 to $110.80 notable transaction looks to be a three way trade in which the initially sold 1,650 March $105/$80 puts spreads traded on CBOE (now 2,300) followed by the purchase of 1,500 of the March $140 calls on PHLX. All could be closing as open interest is sufficient to cover. Shares have declined some 20% in the past month an are at minor support at the $110 level.

2 users commented on " First Solar Inc (FSLR) $111.97 -1.94% "
Follow-up comment rss or Leave a TrackbackThanks Steve. Looks like bullish trading, selling the spread, buying calls. Will check the open interest numbers tomorrow.
For more from Steve Smith, please visit:
http://www.minyanville.com/optionsmith/
Foolishly, FSLR is about 50% of my IRA. I bought in at $119 in November and I regret not ditching it at $140. I haven’t lost much money on it thanks to some covered call protection, but it’s getting ugly. My break even was $113, so i’m starting to see red. I hope it doesn’t go much lower. Earnings on 2/24 I think.