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SunPower Corporation Message Board

  • lakers_w lakers_w May 17, 2010 8:25 PM Flag

    Unusual Trading Activity for SPWRA, Put/Call=0.33

    Posted on 05/17/2010 by Leo Goldman (leo.goldman@marketintellisearch.com)
    http://www.marketintellisearch.com/articles/1014777.html

    [Expect the stock to move back to $14 starting tomorrow. SHorts better cover.]

    NEW YORK (Market Intellisearch) -- SPWRA options saw interesting call activity today. A total of 4,647 put and 13,995 call contracts were traded raising a low Put/Call volume alert. Today's traded Put/Call ratio is 0.33. There were 3.01 calls traded for each put contract.

    The skewed options ratio suggests that traders are rebalancing their portfolios in anticipation of a price shift. Today’s unusual volume activity directly reflects investor outlook and confirms that a stock move is imminent.

    Shares of SunPower Corporation slipped $0.98 (-7.51%) to $12.07. The stock closed at $13.05 in the last trading session and today the shares of SPWRA opened at $13.13. So far today, the stock has hit a low of $11.90 and high of $13.22. The current trading volume of 4,990,067 is greater than average volume of 2,747,620 shares. SPWRA is trading below the 50 day moving average and lower than the 200 day moving average. The technical momentum Relative Strengh Index indicator shows oversold conditions. The stock's 52 week low is $12.96 and 52 week high is $34.00.

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    • Shorts must see end of nice road they've travelled till now
      Probably buying protective calls since SPWRA now trading at exactly MRQ tangible asset (book) value now of $12.11 per share
      This valuation includes zero for any cash generated through their operations (which is grossly wrong)
      It also does not put a premium to their technology advantages over the competition
      Margins are projected to improve or stay constant with internal cost saving programs
      Crude has bottomed out in my opinion
      SPWRA hedged strongly against weakened EU for balance of 2010
      SG&A went from 12% to 20%, and R&D from 2% to 4% in last earnings report .... a strong concern unless you look at the savings that could be derived from cutting both levels back to prior marks

      Great value stock at this entry point
      I only know of Citi Group that currently trades at 90% of tangible that is lower than SPWRA and it is being focused on as a great value play at its current $3.78 share price

    • Shorts often buy calls as insurance against unexpected upward movement. These shorts are very sophisticated and organized and I'm pretty sure they're the ones buying calls.

      All we can do is wait for them to finish what's left of the carcass and move on.

 
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