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Options Trading News

May 10, 2013  Fri 3:47 AM CT

TSL: SEE CHART GET CHAIN FIND STRATEGIES
Trina Solar has declined sharply in the last week, but traders apparently believe that any further losses will be limited.

optionMONSTER systems show that 12,000 June 4 puts traded in a strong selling pattern yesterday, led by a print of 8,000 that went for $0.23. The volume was far above the strike's open interest of 2,312 contracts before the session began, clearly indicating new activity.

The put selling is a bet that TSL will hold above $4 through expiration in mid-June. If the stock falls below that strike price, the trader faces the possibility of having to buy shares at that level. (See our Education section)

TSL rose 1.48 percent, or $0.07, to $4.79 yesterday. The solar-products manufacturer was below $4 last month but traded at $5.30 a week ago, its highest close since February.

More than 15,000 TSL options changed hands overall in the session, 10 times its daily average for the last month.
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