Protection Purchased on JA Solar Holdings (JASO)

Shares of JA Solar Holdings Co. (NASDAQ: JASO) are lower on the session by 1.30%, currently trading at $6.36. The stock has been moving largely higher over the past two months, though has found resistance at $6.50.

Options traders are buying protection on the name today as well. The October $7.00 put was purchased 1,300 times, on the offer, for $0.75 a short while ago; open interest on the strike is only 2 contracts. This signals new positioning on the name.

Put volume is now running at 2.08x the daily average.

JA Solar Holdings Co., Ltd. is a manufacturer of high-performance solar cells based in People's Republic of China. The company produces and sells both monocrystalline and multicrystalline solar cells. The company conducts its business primarily through its wholly owned subsidiaries in People's Republic of China, which includes JingAo Solar Co., Ltd., Shanghai JA Solar PV Technology Co., Ltd. and JA Solar Technology Yangzhou Co., Ltd., in which the company indirectly holds a 100% interest and operates and manages its business as a single segment.

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