The alternative energy sector is seeing unusual options activity today, with much of the sector rallying as investors anticipate more favorable renewable energy policies following the Democrats' sweeping midterm election victories.
FTC Solar Inc (NASDAQ:FTCI) stock is surging 42.8% to trade at $2.07, with options volume running at an impressive 28.5 times the usual intraday pace. So far, 2,107 contracts have changed hands, while traders are leaning bullish, with positive net option delta volume of roughly 57,000 shares.
The Invesco Solar ETF (NYSEARCA:TAN) is up 8.1% at $46.87, as investors anticipate a more favorable political environment for renewable energy. Options volume is running at 5.2 times the average intraday amount, with 10,576 contracts exchanged. Sentiment is bullish, with positive net option delta volume of roughly 9,000 shares.
SolarEdge Technologies Inc (NASDAQ:SEDG) is bucking the trend, down 6.4% to trade at $30.78 following its mixed third-quarter earnings report. Options traders are taking a bearish stance, with negative net option delta volume of roughly 61,000 shares. So far, 15,608 contracts have crossed the tape, or 1.6 times the typical intraday volume.
