The solar energy names are shining today, with a number of different stocks seeing unusually high call volume. RenaSola (SOL), for instance, is up 21 cents to $1.93 and options volume is running more than 50X the daily average. 8,650 calls and 150 puts traded on the stock so far. Feb 2 calls, which are 3.6 percent OTM and expiring in 37 days, are the most acive.s 6,200 traded. Jan, Apr and Jun 2 calls are seeing interest as well. Similar bullish activity is also being seen in Trina Solar (TSL), JA Solar (JASO), Suntech Power (STP), Hanwha Solarone (HSOL), and Canadian Solar (CSIQ). Relative strength in the sector today is being attributed to a positive Deutsche Bank research note (Briefing).
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.