Boston, MA 05/21/2013 (wallstreetpr) – Monday’s trading session saw SunPower Corporation (NASDAQ:SPWR) climbing up by 7.74%. It closed at a price of $22.70 which reached an intraday high of $23.00 before heading down to close at $21.46 per share. The average volume of 7.39 million was measured over 30 days.
SPWR’s positive price action has seen call players rushing for it. Approximately 32,000 calls crossed the tape at the close of the week. This was triple the number of puts. The stock tagged a $22.38 new annual high. Option traders ended up raising the bullish ante from today’s speculators. SunPower Corporation (NASDAQ:SPWR)’s May 21 calls were scooped-up for a $0.78 volume-weighted average price. A good percentage of the 2,915 contracts that were traded took place at the ask price. The volume outstripped open-interest and the data from the International Securities Exchange confirmed that a large number of the positions were bought to open.
Considering that in 2013, the SPWR equity has charged almost 286% higher, it’s not really surprising that the bullish bets have been popular over the last few months. Over the last 50 sessions, traders at the ISE, NASDAQ OMX PHLX and Chicago Board Options Exchange have bought 37,992 calls to open in comparison with 5,629 puts. The resultant 6.75 call/put volume ratio ranks 71% above similar readings that were taken over the last year. This indicated a stronger than usual demand for long calls over puts, lately.
