On June 8 with the price about 102.89, I emailed this to a friendNot saying it's a buy right here, given the state of the market, but this stock is close to its 52 week low so if you're interested in solar, keep an eye on it
So since then, I have been closely watching for an opportunity to own this American thin-film solar maker. As it touched $120 today, I became very interested. At 100, bouncing to 110 was one thing, but at 120, it will probably now continue and hit 140.
I saw that I could buy $140 July 17 calls for only .90. The market has quickly forgotten that FSLR was at 150 after earnings just a short time ago. April 29. It won't take much to push it back to at least 140.
The fundamentals are: it's one of the most profitable solar companies, and has been for a number of years now, and it's thin-film, which is for now the most cost-efficient type of solar. They're also American, so you can feel good investing in them.
I also can't ignore the elephant in the room: Obama's push for new environmental initiatives, with renewed emphasis because of the oil spill.
Now will this happen? I am not saying it is. But what is helpful is that it's giving the investment community a chance to dust off some of these polished stones from the past, and give them a second look.