This Is What Whales Are Betting On First Solar

Investors with a lot of money to spend have taken a bullish stance on First Solar FSLR.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FSLR, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 12 uncommon options trades for First Solar.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 41%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $316,750, and 8 are calls, for a total amount of $503,720.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $200.0 for First Solar, spanning the last three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for First Solar options trades today is 851.88 with a total volume of 597.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for First Solar's big money trades within a strike price range of $70.0 to $200.0 over the last 30 days.

First Solar 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Current Position of First Solar

• With a volume of 1,000,788, the price of FSLR is down -5.05% at $126.31.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 43 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 $246.8.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Morgan Stanley persists with their Overweight rating on First Solar, maintaining a target price of $238. * In a cautious move, an analyst from BMO Capital downgraded its rating to Outperform, setting a price target of $230. * An analyst from Piper Sandler persists with their Overweight rating on First Solar, maintaining a target price of $230. * An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $285. * An analyst from RBC Capital has decided to maintain their Outperform rating on First Solar, which currently sits at a price target of $251.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for First Solar with Benzinga Pro for real-time alerts.