Chinese solar wafer maker ReneSola rose yesterday along with some upside options activity.
Trading was focused on the July 7.50 options, where more than 7,500 calls traded in a strong buying pattern, according to OptionMonster's tracking systems. That total approached four times open interest and dwarfed the average call volume of just 91 contracts at that strike.
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ReneSola may be a bit overdone at this stage, having rocketed roughly 50 percent in just the last week even after lowering guidance in May. The shares, which ended yesterday's session up 8 percent to $6.71, will still need to rise at least another 20 percent for those July 7.50 trades to turn a profit.
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Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC's "Fast Money" and co-founder of OptionMonster.com.
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