{"id":170,"date":"2009-09-30T13:06:00","date_gmt":"2009-09-30T17:06:00","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=170"},"modified":"2009-09-30T14:42:31","modified_gmt":"2009-09-30T18:42:31","slug":"options-traders-in-renesola-switch-from-calls-to-puts","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/","title":{"rendered":"Options Traders in ReneSola Switch from Calls to Puts"},"content":{"rendered":"<p>It seems traders in ReneSola (SOL) are moving one step too slowly. <a href=\"http:\/\/drduru.com\/onetwentytwo\/2009\/09\/18\/adjusting-solar-portfolio\/\">Options traders loaded up on Oct 7.5 calls<\/a> earlier this month, only to be greeted with last week&#8217;s news that <a href=\"http:\/\/drduru.com\/onetwentytwo\/2009\/09\/23\/watch-the-trading-reaction-to-renesolas-news\/\">SOL&#8217;s revenues would come in a little light based on weaker than expected pricing<\/a>. SOL also announced a fresh offering of 14.4M in stock. By the close of trading that day (September 23), SOL actually finished up 2.6%. This seemed to suggest that market digested the news just fine.<\/p>\n<p>Fast forward to today and SOL drops a mini-bomb that it increased the dilution to 15.5M shares and priced the new offering at $4.75 &#8211; a full 11% below yesterday&#8217;s close and a whopping 21% below the close of trading from the announcement of the offering. No wonder options traders are now loading up on Nov 5 puts (as of time edit, 2334 puts traded compared to an open interest of 504 &#8211; I will review again tomorrow to how much open interest changes). While I am of course disappointed my handful of Oct 7.5 calls will most likely expire worthless, I did not follow the market again on today&#8217;s move. Instead, I bought Nov 5 calls as SOL held around the $4.75 offering price. I suspect that traders rushed out to buy puts to protect and\/or salvage positions. I also like that SOL held onto the bottom of the recent trading range that still looks like a (wide) consolidation pattern after the strong run-up that accelerated in June (<a href=\"http:\/\/drduru.com\/onetwentytwo\/2009\/09\/18\/adjusting-solar-portfolio\/\">see earlier post for the chart<\/a>). <\/p>\n<p>The experience with SOL once again proves out <a href=\"http:\/\/www.drduru.com\/money\/090827_HighOptionsVolumePart3.htm\">the conclusions I made earlier on trying to interpret trading volume in options<\/a>. Traders cannot simply blindly ride the coattails of heavy volume and must bring some additional information and\/or technical analysis to the equation to have any chance to distinguish between a popular party and a mindless stampede&#8230;and even then, buyer beware!<\/p>\n<p>Be careful out there!<\/p>\n<p>Full disclosure: long SOL calls<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It seems traders in ReneSola (SOL) are moving one step too slowly. Options traders loaded up on Oct 7.5 calls earlier this month, only to be greeted with last week&#8217;s news that SOL&#8217;s revenues would come in a little light based on weaker than expected pricing. SOL also announced a fresh offering of 14.4M in &#8230; <a title=\"Options Traders in ReneSola Switch from Calls to Puts\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[32,3],"tags":[33,155,68,106,107,119,17],"class_list":["post-170","post","type-post","status-publish","format-standard","hentry","category-options","category-solar-energy","tag-calls","tag-options-trading","tag-puts","tag-renesola","tag-sol","tag-solar-stock","tag-speculation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Options Traders in ReneSola Switch from Calls to Puts - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Options Traders in ReneSola Switch from Calls to Puts - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"It seems traders in ReneSola (SOL) are moving one step too slowly. Options traders loaded up on Oct 7.5 calls earlier this month, only to be greeted with last week&#8217;s news that SOL&#8217;s revenues would come in a little light based on weaker than expected pricing. SOL also announced a fresh offering of 14.4M in ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/\" \/>\n<meta property=\"og:site_name\" content=\"ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"article:published_time\" content=\"2009-09-30T17:06:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2009-09-30T18:42:31+00:00\" \/>\n<meta name=\"author\" content=\"Dr. Duru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@drduru\" \/>\n<meta name=\"twitter:site\" content=\"@drduru\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dr. Duru\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/09\\\/30\\\/options-traders-in-renesola-switch-from-calls-to-puts\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/09\\\/30\\\/options-traders-in-renesola-switch-from-calls-to-puts\\\/\"},\"author\":{\"name\":\"Dr. Duru\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"headline\":\"Options Traders in ReneSola Switch from Calls to Puts\",\"datePublished\":\"2009-09-30T17:06:00+00:00\",\"dateModified\":\"2009-09-30T18:42:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/09\\\/30\\\/options-traders-in-renesola-switch-from-calls-to-puts\\\/\"},\"wordCount\":330,\"commentCount\":4,\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"keywords\":[\"calls\",\"options trading\",\"puts\",\"ReneSola\",\"SOL\",\"solar stock\",\"speculation\"],\"articleSection\":[\"Options\",\"Solar Energy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/09\\\/30\\\/options-traders-in-renesola-switch-from-calls-to-puts\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/09\\\/30\\\/options-traders-in-renesola-switch-from-calls-to-puts\\\/\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/09\\\/30\\\/options-traders-in-renesola-switch-from-calls-to-puts\\\/\",\"name\":\"Options Traders in ReneSola Switch from Calls to Puts - ONE-TWENTY TWO: Trading Financial Markets\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\"},\"datePublished\":\"2009-09-30T17:06:00+00:00\",\"dateModified\":\"2009-09-30T18:42:31+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/09\\\/30\\\/options-traders-in-renesola-switch-from-calls-to-puts\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/09\\\/30\\\/options-traders-in-renesola-switch-from-calls-to-puts\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/09\\\/30\\\/options-traders-in-renesola-switch-from-calls-to-puts\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Options Traders in ReneSola Switch from Calls to Puts\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\",\"name\":\"ONE-TWENTY TWO: Trading Financial Markets\",\"description\":\"Exploring the poetry in financial markets for students of money and economy since the year 2000.\",\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\",\"name\":\"Dr. Duru\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"width\":900,\"height\":100,\"caption\":\"Dr. Duru\"},\"logo\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.drduru.com\\\/onetwentytwo\",\"https:\\\/\\\/www.instagram.com\\\/drduru_market_breadth\\\/\",\"https:\\\/\\\/x.com\\\/drduru\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Options Traders in ReneSola Switch from Calls to Puts - ONE-TWENTY TWO: Trading Financial Markets","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/","og_locale":"en_US","og_type":"article","og_title":"Options Traders in ReneSola Switch from Calls to Puts - ONE-TWENTY TWO: Trading Financial Markets","og_description":"It seems traders in ReneSola (SOL) are moving one step too slowly. Options traders loaded up on Oct 7.5 calls earlier this month, only to be greeted with last week&#8217;s news that SOL&#8217;s revenues would come in a little light based on weaker than expected pricing. SOL also announced a fresh offering of 14.4M in ... Read more","og_url":"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/","og_site_name":"ONE-TWENTY TWO: Trading Financial Markets","article_published_time":"2009-09-30T17:06:00+00:00","article_modified_time":"2009-09-30T18:42:31+00:00","author":"Dr. Duru","twitter_card":"summary_large_image","twitter_creator":"@drduru","twitter_site":"@drduru","twitter_misc":{"Written by":"Dr. Duru","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/#article","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/"},"author":{"name":"Dr. Duru","@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"headline":"Options Traders in ReneSola Switch from Calls to Puts","datePublished":"2009-09-30T17:06:00+00:00","dateModified":"2009-09-30T18:42:31+00:00","mainEntityOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/"},"wordCount":330,"commentCount":4,"publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"keywords":["calls","options trading","puts","ReneSola","SOL","solar stock","speculation"],"articleSection":["Options","Solar Energy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/","url":"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/","name":"Options Traders in ReneSola Switch from Calls to Puts - ONE-TWENTY TWO: Trading Financial Markets","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#website"},"datePublished":"2009-09-30T17:06:00+00:00","dateModified":"2009-09-30T18:42:31+00:00","breadcrumb":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/09\/30\/options-traders-in-renesola-switch-from-calls-to-puts\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/drduru.com\/onetwentytwo\/"},{"@type":"ListItem","position":2,"name":"Options Traders in ReneSola Switch from Calls to Puts"}]},{"@type":"WebSite","@id":"https:\/\/drduru.com\/onetwentytwo\/#website","url":"https:\/\/drduru.com\/onetwentytwo\/","name":"ONE-TWENTY TWO: Trading Financial Markets","description":"Exploring the poetry in financial markets for students of money and economy since the year 2000.","publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/drduru.com\/onetwentytwo\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0","name":"Dr. Duru","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","width":900,"height":100,"caption":"Dr. Duru"},"logo":{"@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg"},"sameAs":["http:\/\/www.drduru.com\/onetwentytwo","https:\/\/www.instagram.com\/drduru_market_breadth\/","https:\/\/x.com\/drduru"]}]}},"_links":{"self":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/comments?post=170"}],"version-history":[{"count":5,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/170\/revisions"}],"predecessor-version":[{"id":173,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/170\/revisions\/173"}],"wp:attachment":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/media?parent=170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/categories?post=170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/tags?post=170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}