Investors with a lot of money to spend have taken a bullish stance on First Solar FSLR.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, 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 12 options trades for First Solar.
This isn't normal.
The overall sentiment of these big-money traders is split between 83% bullish and 16%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $25,450, and 11, calls, for a total amount of $760,459.
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 $95.0 to $165.0 for First Solar over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for First Solar options trades today is 752.38 with a total volume of 3,095.00.
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 $95.0 to $165.0 over the last 30 days.
First Solar 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FSLR | CALL | SWEEP | BULLISH | 05/03/24 | $155.00 | $138.0K | 5 | 105 |
| FSLR | CALL | TRADE | BULLISH | 04/19/24 | $160.00 | $126.0K | 4.5K | 1.5K |
| FSLR | CALL | TRADE | BULLISH | 04/19/24 | $160.00 | $126.0K | 4.5K | 1.5K |
| FSLR | CALL | SWEEP | BULLISH | 04/19/24 | $160.00 | $103.0K | 4.5K | 623 |
| FSLR | CALL | SWEEP | BEARISH | 04/19/24 | $160.00 | $52.0K | 4.5K | 221 |
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.
Current Position of First Solar
- Trading volume stands at 597,500, with FSLR's price up by 0.87%, positioned at $154.5.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 29 days.
What Analysts Are Saying About First Solar
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $240.66666666666666.
- Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $195.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for First Solar, targeting a price of $269.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on First Solar with a target price of $258.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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