Decoding First Solar's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bullish approach towards First Solar FSLR, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in FSLR usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 23 extraordinary options activities for First Solar. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 43% leaning bullish and 43% bearish. Among these notable options, 2 are puts, totaling $73,650, and 21 are calls, amounting to $1,330,640.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $200.0 to $450.0 for First Solar over the recent three months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in First Solar's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to First Solar's substantial trades, within a strike price spectrum from $200.0 to $450.0 over the preceding 30 days.

First Solar Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About First Solar

First Solar designs and manufactures solar photovoltaic panels, modules, and systems for use in utility-scale development projects. The company's solar modules use cadmium telluride to convert sunlight into electricity. This is commonly called thin-film technology. First Solar is the world's largest thin-film solar module manufacturer. It has production lines in Vietnam, Malaysia, the United States, and India.

Following our analysis of the options activities associated with First Solar, we pivot to a closer look at the company's own performance.

First Solar's Current Market Status

• With a volume of 759,862, the price of FSLR is down -3.71% at $280.73.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 41 days.

Expert Opinions on First Solar

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $302.2.

• An analyst from Morgan Stanley persists with their Overweight rating on First Solar, maintaining a target price of $331.
• Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on First Solar with a target price of $325.
• An analyst from BMO Capital persists with their Outperform rating on First Solar, maintaining a target price of $311.
• Consistent in their evaluation, an analyst from UBS keeps a Buy rating on First Solar with a target price of $270.
• An analyst from Mizuho has revised its rating downward to Neutral, adjusting the price target to $274.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for First Solar, Benzinga Pro gives you real-time options trades alerts.