Puts Purchased on Evergreen Solar (ESLR)
November 17, 2010 12:11 PM
Shares of Evergreen Solar (NASDAQ: ESLR) are lower on the session by 5.20%, currently trading at $0.825. The stock has been moving largely lower over the past twelve months and is currently trading below the 50-day and 200-day moving averages.
Options traders are buying puts on the name today. A short while ago the January 2011 $0.50 put was purchased 1,700 times, on the offer, for $0.10 on open interest of only 1,000 contracts. This signals new positioning on the name.
Overall put volume is now running at 5.23x the daily average with 86% of all puts traded being purchases on the offer.
Evergreen Solar, Inc. develops, manufactures and markets String Ribbon solar panels, utilizing its wafer manufacturing technology. The wafers the company produces are the primary components of photovoltaic cells, which, in turn, are used to produce solar panels.
