27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Someone with a lot of money to spend has taken a bearish stance on First Solar (NASDAQ:FSLR).
And retail traders should know.
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We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with FSLR, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for First Solar.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $1,664,376, and there was 1 call, for a total amount of $31,500.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $110.0 to $190.0 for First Solar over the last 3 months.
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Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for First Solar's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of First Solar's whale trades within a strike price range from $110.0 to $190.0 in the last 30 days.
First Solar Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FSLR | PUT | TRADE | BEARISH | 06/16/23 | $110.00 | $645.0K | 18 | 0 |
| FSLR | PUT | TRADE | BULLISH | 11/18/22 | $190.00 | $417.3K | 76 | 0 |
| FSLR | PUT | TRADE | BEARISH | 01/19/24 | $155.00 | $387.0K | 10 | 0 |
| FSLR | PUT | TRADE | BULLISH | 12/16/22 | $120.00 | $59.6K | 575 | 85 |
| FSLR | PUT | TRADE | BEARISH | 09/30/22 | $135.00 | $41.5K | 1.2K | 502 |
Where Is First Solar Standing Right Now?
- With a volume of 765,973, the price of FSLR is up 2.35% at $134.01.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 34 days.
What The Experts Say On First Solar:
- Evercore ISI Group upgraded its action to Outperform with a price target of $150
- Morgan Stanley has decided to maintain their Equal-Weight rating on First Solar, which currently sits at a price target of $146.
- Susquehanna has decided to maintain their Positive rating on First Solar, which currently sits at a price target of $175.
- Goldman Sachs upgraded its action to Buy with a price target of $172
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for First Solar, Benzinga Pro gives you real-time options trades alerts.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.