This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Bulls Fill Up on Clean Energy Fuels

By Mike Yamamoto of OptionMonster

NEW YORK -- Traders are turning bullish on Clean Energy Fuels (CLNE) ahead of its earnings report this week.

More than 7,000 August 10 calls were purchased for 25 cents to 45 cents on Friday in volume far above previous open interest of just 545 contracts, according to optionMONSTER's Heat Seeker tracking system. Another 3,400 September 10 calls traded for 35 cents to 75 cents, also well above open interest and therefore new positioning.

CLNE was down 0.8% to $9.88 at Friday's close, but only after bouncing sharply off session lows with the afternoon call buying. The stock is down 22% this year and 14% just in the last month, but traders are apparently hoping for a squeeze as short interest makes up an estimated 23% of the float.

The company, which is building a network of natural-gas filling stations, is scheduled to announce second-quarter results on Thursday after the market closes.

Friday's total option volume in the name was 14 times its daily average for the last month. Overall calls outnumbering puts by 15 to 1, a reflection of the session's bullish sentiment.

Yamamoto has no positions in CLNE.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.70 -0.60%
FB $101.91 0.90%
GOOG $683.11 -0.15%
TSLA $150.47 4.73%
YHOO $26.76 -1.25%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports