Trade of the Day

December 28, 2016

Traders are always on the lookout for the next big turnaround story, and floundering energy company Canadian Solar CSIQ – NASDAQ came out on top [yesterday] when a customer bought 2,000 CSIQ April 15 calls.

Bottarelli Research Translation: Solar stocks have been disastrous investments for years, and now with an incoming president-elect who’s notoriously fond of conventional energy resources, the timing seems peculiar. However, CSIQ set a multi-year low the day after the election and has been quietly recovering since. Perhaps sellers have run out of steam and CSIQ is about to break higher?

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Source: Bottarelli Research