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?
Source: Bottarelli Research