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Andrew Keene Is Bullish On First Solar

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Andrew Keene Is Bullish On First Solar

Andrew Keene suggested on CNBC's Trading Nation a bullish options strategy in First Solar, Inc. (NASDAQ: FSLR). He's optimistic because he noticed on a daily chart that the 20-day moving average crossed above the 50-day moving average. He has also noticed high options activity in First Solar as traders bought 2,000 contracts of the March 37.5 calls.

Keene believes the stock is going higher and he wants to buy the March 37.5/40 call spread to make money from a potential move higher. The call spread would cost him $0.70, which sets the break even for the trade at $38.20 or 9.55 percent above the current market price. If First Solar jumps to $40 or higher at the March expiration, the trade is going to reach its maximal profit of $1.80.

 

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Posted-In: Andrew Keene Trading NationMedia Best of Benzinga