Solar stocks buzz with unusual options activity for First Solar.

By Oliver Townsend Jul 3, 2024
First Solar Unusual Options Activity.jpegOrginal image from: https://www.benzinga.com/insights/options/24/07/39625228/first-solar-unusual-options-activity

First Solar, listed on NASDAQ as FSLR, has recently seen an influx of unusual options activity that has caught the attention of many market players. This significant move by deep-pocketed investors suggests that something big may be on the horizon for the company. Benzinga’s options scanner detected 36 extraordinary options activities for First Solar, indicating a departure from the norm.

First Solar Options Activity Overview

Among the notable options activities for First Solar, 44% of investors are leaning bullish, while 38% are bearish. The options include 16 puts totaling $1,192,573 and 20 calls amounting to $1,041,456. The trading context reveals an average open interest of 933.41 for First Solar options, with a total volume of 6,820.00, centered around a price window of $180.0 to $300.0 for the past quarter.

Analysis of First Solar Option Activity

Examining the volume and open interest in these contracts, it is evident that big players have been eyeing a specific price range for First Solar. The chart illustrates the progression of call and put option volume and open interest for high-value trades between $180.0 to $300.0 over the last 30 days.

Largest Options Trades Observed:

1. Symbol: FSLR, Put, Bearish, Exp. Date: 01/16/26, Price: $49.65, Strike Price: $230.00, Total Trade Price: $248.2K, Open Interest: 63, Volume: 0.

2. Symbol: FSLR, Call, Bearish, Exp. Date: 08/16/24, Price: $2.35, Strike Price: $300.00, Total Trade Price: $223.3K, Open Interest: 1.5K, Volume: 553.

3. Symbol: FSLR, Put, Neutral, Exp. Date: 07/19/24, Price: $53.4, Strike Price: $280.00, Total Trade Price: $105.4K, Open Interest: 3, Volume: 60.

About First Solar

First Solar is a leading designer and manufacturer of solar photovoltaic panels, modules, and systems for utility-scale projects. Using cadmium telluride for solar modules, First Solar is known for its thin-film technology and is the largest thin-film solar module manufacturer globally. With production facilities in Vietnam, Malaysia, the United States, and India, First Solar continues to innovate in the renewable energy sector.

Current Position of First Solar

First Solar’s trading volume stands at 3,988,773, with a price increase of 6.58%, reaching $230.99. The current RSI values suggest a potential oversold scenario, with the next earnings report scheduled in 27 days. While options trading poses risks, it also offers higher profit potential for those willing to navigate the market strategically.

If you want to stay informed about the latest options trades for First Solar, Benzinga Pro provides real-time alerts to keep you updated on market movements and opportunities.

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