First Solar (FSLR) adds $1.71 to $35.47 and an 8800-lot of Jan 30 puts trades on the stock at 56 cents when the market was 56 to 64 cents. Another 5,000 traded at 57 cents and is possibly closing activity. 17,795 traded against 26,913 in open interest, which is the largest position in the name. Deep OTM Jan 50, Jan 75 and Mar 65 calls on FSLR are seeing interest as well. Implied volatility has eased 4.5 percent to 70, as some investors are possibly betting that 2012 will be a brighter year for the solar energy company compared to last year. Shares lost about 74 percent in 2011.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.