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Buy FSLR June 110 Calls

First Solar has broken out, and we expect a run to $122


First Solar, Inc. (NASDAQ: FSLR), currently trading at $112, has broken out, and we expect a run over the next couple of days up to the 200-day simple moving average (SMA), which is around $122.

On the downside, we would get out and cut losses at $107.

Those that are a little more aggressive may think about buying FSLR June 110 Calls, remembering that you will want to close out or roll out the position on Friday afternoon as it is options expiration.

Those that are a little more conservative may want to look at buying the June 110-115 call spread.

Again, remember that this Friday is expiration and you will want to adjust your position accordingly no later than Friday afternoon.

For more trading ideas and further explanation, please join us at The Wizard and the Pitbull!

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