Options traders bet heavily on solar stocks ahead of midterm elections, with call option volume on the Invesco Solar ETF surging 40x
Option traders are heavily betting on solar stocks ahead of the midterms, with call option volume on the Invesco Solar ETF surging 40-fold. According to CNBC, traders are flooding into equities viewed as beneficiaries of leftist leadership amid expectations of a potential Democratic landslide in the midterm elections. On Tuesday, options volume on clean energy stocks—particularly solar companies—skyrocketed. Among them, trading volume for the Invesco Solar ETF (TAN) reached 40 times its usual level, exceeding 20,000 contracts, with 99% of them being calls. In individual stocks, SolarEdge Technologies and Enphase Energy stood out, with call option volumes far exceeding average levels. The two stocks rose 6% and 9% respectively on Tuesday.
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