Yingli Green Energy Hold. Co. Ltd. attracted both bullish and bearish bettors in the options pits on Tuesday, with single-session volume far surpassing the norm. More specifically, the alternative energy concern saw roughly 6,500 puts change hands, almost quintupling its average daily volume of fewer than 1,400 puts. Meanwhile, the stock saw about 11,000 calls cross the tape – more than three times the expected volume of about 2,500 calls.
On the put side, the February 17 strike garnered the most attention, with 2,009 contracts exchanged – 77% of which traded at the ask price, suggesting they were bought. Plus, the back-month put's implied volatility spiked almost 6%, underscoring the escalating demand for the option. By purchasing the out-of-the-money puts, these bearish bettors are expecting the shares of YGE to gravitate lower in the short-to-intermediate term.
On the call side, the security's January 2010 19 strike was most popular, with close to 3,400 contracts traded – 61% of which crossed at the ask price. Furthermore, the near-term option's implied volatility jumped about 22%, reflecting the growing appetite for the call. By buying the out-of-the-money calls, these optimistic option speculators are anticipating additional gains for YGE on the charts.
At last check, the shares of YGE have surrendered 1.4% to hang out in the $18.25 neighborhood. From a longer-term perspective, the stock recently embarked on a quest for new highs, outpacing the broader S&P 500 Index (SPX) by 43% during the past 40 sessions.
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