Looking At First Solar's Recent Unusual Options Activity

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 25 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 40% leaning bullish and 60% bearish. Among these notable options, 10 are puts, totaling $2,671,489, and 15 are calls, amounting to $3,680,108.

Predicted Price Range

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 $280.0 for First Solar over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for First Solar's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across First Solar's significant trades, within a strike price range of $145.0 to $280.0, over the past month.

First Solar Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
FSLR CALL TRADE BULLISH 04/19/24 $34.0 $33.65 $34.0 $145.00 $3.2M 1.4K 62
FSLR PUT TRADE BULLISH 01/17/25 $18.15 $17.45 $17.55 $160.00 $995.0K 6.6K 1.2K
FSLR PUT SWEEP BEARISH 01/17/25 $37.65 $35.1 $37.35 $195.00 $717.1K 887 3
FSLR PUT SWEEP BEARISH 01/17/25 $17.6 $17.35 $17.6 $160.00 $654.7K 6.6K 400
FSLR CALL TRADE BEARISH 04/19/24 $3.6 $3.5 $3.5 $185.00 $77.3K 3.1K 314

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 1,640,273, the price of FSLR is up by 1.21%, reaching $176.71.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 23 days from now.

Professional Analyst Ratings for 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 $258.0.

  • 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.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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