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Yingli Green Energy attracting buyers

Mike Yamamoto (mike.yamamoto@optionmonster.com)

Traders are looking for more gains in Yingli Green Energy, which spiked higher at the end of last week.

optionMONSTER's Heat Seeker system detected heavy buying in the Chinese solar-technology company's August 4 calls, where 5,558 contracts traded for $0.25 to $0.45 on Friday. The volume was 9 times higher than the strike's open interest of just 599 calls before the session began, indicating that this is fresh buying.

YGE surged 13.25 percent to close the session at $3.76. The beaten-down solar sector has cooled in the last month after a big run earlier this year , but Yingli had been trading toward the upper end of its recent range leading up to Friday's jump.

Friday's long calls lock in a $4 purchase price for the Yingli's stock no matter how far it might rise, but they will expire worthless if shares remain below that level through mid-August. The last time it closed above $4 was Feb. 17. (See our Education section)

Total option volume in the name topped 9,000 contracts in the session, more than 9 times its daily average for the last month, with overall calls outnumbering puts by a bullish 10-to-1 ratio. YGE also saw call buying on June 17 .

The company is scheduled to present at the Intersolar North America 2013 industry conference, which begins on Thursday.

(A version of this post appeared on InsideOptions Pro on Friday.)



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