Bears Target Yingli Green (YGE)

Shares of Yingli Green Energy Holdings YGE are falling sharply on the session, currently down 8.19% to $9.19. The company announced today that“it has signed a sales contract with MAESSA TELECOMUNICACIONES, INGENIERIA, INSTALACIONES Y SERVICIOS, S.A. ("MAETEL"), a leading Spanish EPC company which belongs to the industrial division of A.C.S. Group, one of Europe's largest infrastructure development companies. Under the terms of this contract, Yingli Green Energy has agreed to supply 33 MW of PV modules to MAETEL from the beginning of October 2010 through the end of April 2011.” While one would think this to be bullish for the stock, it is trading down hard and attracting put buyers as well. The May $10 puts were purchased earlier in the session 2,000 times for $0.65. this vastly surpasses open interest of 929 contracts, which may suggest that shares have further to fall this week.