Deep-pocketed investors have adopted a bullish approach towards First Solar FSLR, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in FSLR usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for First Solar. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 61% leaning bullish and 38% bearish. Among these notable options, 5 are puts, totaling $505,743, and 8 are calls, amounting to $513,877.
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Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $135.0 to $230.0 for First Solar over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for First Solar options trades today is 489.91 with a total volume of 1,815.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for First Solar's big money trades within a strike price range of $135.0 to $230.0 over the last 30 days.
First Solar Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FSLR | PUT | SWEEP | BULLISH | 03/01/24 | $140.00 | $280.9K | 179 | 767 |
| FSLR | CALL | SWEEP | BULLISH | 01/16/26 | $150.00 | $145.1K | 161 | 33 |
| FSLR | CALL | SWEEP | BULLISH | 04/19/24 | $185.00 | $138.0K | 1.2K | 0 |
| FSLR | PUT | SWEEP | NEUTRAL | 01/16/26 | $150.00 | $120.3K | 1.1K | 35 |
| FSLR | CALL | TRADE | BEARISH | 04/19/24 | $185.00 | $68.1K | 1.2K | 500 |
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
Present Market Standing of First Solar
- Trading volume stands at 858,259, with FSLR's price up by 0.01%, positioned at $150.04.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 5 days.
What Analysts Are Saying About First Solar
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $195.0.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $195.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for First Solar with Benzinga Pro for real-time alerts.
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