First Solar's Options Frenzy: What You Need to Know

Deep-pocketed investors have adopted a bearish 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 17 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 41% leaning bullish and 58% bearish. Among these notable options, 8 are puts, totaling $470,072, and 9 are calls, amounting to $2,278,113.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $200.0 for First Solar during the past quarter.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of First Solar stands at 808.6, with a total volume reaching 2,488.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in First Solar, situated within the strike price corridor from $100.0 to $200.0, throughout the last 30 days.

First Solar 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

After a thorough review of the options trading surrounding First Solar, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

First Solar's Current Market Status

• With a trading volume of 1,303,683, the price of FSLR is down by -1.71%, reaching $159.4.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 44 days from now.

What Analysts Are Saying About First Solar

4 market experts have recently issued ratings for this stock, with a consensus target price of $229.25.

• Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $195.
• Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on First Solar with a target price of $258.
• An analyst from RBC Capital downgraded its action to Outperform with a price target of $195.
• An analyst from Oppenheimer persists with their Outperform rating on First Solar, maintaining a target price of $269.

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.