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Options: Bearish Bet on First Solar
By Jud Pyle, CFA, chief investment strategist for the Options News Network
Right out of the gate today, an investor's put spread purchase trumped normal daily options volume in First Solar (FSLR Quote) despite a positive outlook from analysts.
More than 30,000 FSLR options traded across all strikes before midday, the bulk of which changed hands when an investor sold 11,300 Aug. 115 puts and bought the Aug. 125 puts 11,300 times. The investor paid $2.20 per spread with the stock at $144.97 a share. Normal daily options volume in FSLR options is approximately 22,000 contracts. ...
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