First Solar, Inc. (NASDAQ: FSLR) is trading as though investors are worried that it too could fall the way of Energy Conversion Devices, even though the comparison seems very much too premature and far too extreme. Not only has the stock taken a hit today, the stock options bets against this company are looking uglier and uglier. If you go beyond the February 2012 monthly expirations into March (remember, Feb. options expire this Friday) and take a look at the puts:
- In the $32.00 PUTS there have been some 12,022 put option contracts traded versus a prior open interest of only 1,528 contracts.
- In the $39.00 PUTS there have been some 12,391 put option contracts traded versus a prior open interest of only 1,034 contracts.
The Guggenheim Solar ETF (NYSE: TAN), which is comprised by well over 10% with First Solar shares, is down 6.7% at $3.18. Shares of First Solar are now down over 6% at $39.10 and we have already seen more than a full day’s trading volume in the stock.
JON C. OGG
Sponsored: Want to Retire Early? Start Here
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
