Goldman Sachs Suggests Selling Covered Strangles on First Solar (FSLR)

Goldman Sachs is out with a research note this morning, where it suggests that traders sell covered strangles on First Solar

. Goldman Sachs Alternative Energy analyst, Michael Wienkes, is bullish on the long-term potential for FSLR shares and recently upgraded the stock to Conviction Buy. Given that management held a conference call in December where they discussed their 2011 guidance, he expects shares to be less volatile than normal around the upcoming earnings release. The analysts recommend selling the February $150/165 covered strangle for $6.02. First Solar, Inc. is engaged in the manufacture and sale of solar modules with an advanced thin film semiconductor technology, and it designs, constructs and sells photovoltaic (PV) solar power systems.