27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
Investors with a lot of money to spend have taken a bullish stance on First Solar (NASDAQ:FSLR).
And retail traders should know.
We noticed this today when the trades 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 50% bullish and 50%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $9,547,389, and there was 1 call, for a total amount of $122,396.
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 $145.0 to $195.0 for First Solar over the last 3 months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in First Solar's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to First Solar's substantial trades, within a strike price spectrum from $145.0 to $195.0 over the preceding 30 days.
First Solar Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FSLR | PUT | TRADE | BULLISH | 01/17/25 | $15.35 | $14.6 | $14.8 | $150.00 | $4.4M | 2.3K | 102 |
| FSLR | PUT | TRADE | BULLISH | 09/20/24 | $15.8 | $14.9 | $15.1 | $165.00 | $4.3M | 1.5K | 116 |
| FSLR | PUT | TRADE | BULLISH | 07/19/24 | $5.25 | $4.75 | $4.8 | $145.00 | $468.0K | 1.1K | 1.0K |
| FSLR | CALL | SWEEP | BULLISH | 04/19/24 | $11.35 | $11.3 | $11.35 | $162.50 | $122.3K | 196 | 0 |
| FSLR | PUT | SWEEP | BEARISH | 05/17/24 | $24.95 | $24.7 | $24.9 | $195.00 | $117.0K | 43 | 0 |
About First Solar
First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.
Having examined the options trading patterns of First Solar, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of First Solar
- Currently trading with a volume of 695,543, the FSLR's price is down by -1.47%, now at $173.37.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 15 days.
Expert Opinions on First Solar
3 market experts have recently issued ratings for this stock, with a consensus target price of $229.33333333333334.
- An analyst from B of A Securities persists with their Buy rating on First Solar, maintaining a target price of $194.
- In a cautious move, an analyst from Janney Montgomery Scott downgraded its rating to Buy, setting a price target of $236.
- An analyst from Susquehanna persists with their Positive rating on First Solar, maintaining a target price of $258.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest First Solar options trades with real-time alerts from Benzinga Pro.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
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