Solar Calls Heating Up (STP, CSIQ)

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06:24:10 pm on August 20, 2008

Call activity is picking up in the solar names.  Suntech Power Holdings (STP) was up over 12% today to $41.75.  Almost 5,000 STP Sept 45’s traded today vs and open interest of 5,351.  There was also roughly 600 Oct 45’s, 1,000 Oct 50’s, and 500 Oct 55’s vs almost zero open interest before today.  

CSIQ saw similar action.  The standout strike is the Sept 30 that traded 6,600 contracts today vs an open interest of 4,000.

When there is higher than average buying in the option market it is good to know where the "smart money" is placing their bets. 

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