Big Announcements Coming for Clean Energy? Options Say Yes
Options flow is often a great indication of where the market is heading. The reason is two-fold (actually more but two are easy to understand); market makers have to hedge options, which is why the Soft Bank Nasdaq Whale was so successful (if you are unfamiliar, look this up). Another is about insider information, which makes the world (and market) go round. Below, we see extremely unusual option activity from an ETF, $ICLN, iShares Global Clean Energy ETF. This ETF usually has very little options activity. Someone today took this position, over $1M, in Call options at the money (20) and 10% out of the money (22). We Included the historical flow of $ICLN options activity from May 1st through today for reference.
Also, remember Biden will be visiting Saudi Crown Prince MBS next week. Interesting times ahead.
