SunPower (SPWR)

Dec 22, 2020Trade Ideas

Solar stocks, like SunPower (SPWR) are breaking out.

All thanks to some big catalysts.

For one, the $900 billion stimulus bill includes $35.2 billion for new energy initiatives.

Two, with Joe Biden heading to the White House, green stocks could see a good deal of upside. Three, Biden has already said the U.S. will rejoin the Paris Climate Accord. Also, Biden mentioned a $2 trillion clean energy plan, with hopes for net zero emissions by 2050.

From here, solar stocks like SPWR could head even higher.

On the long side of the trade, we can buy the SPWR stock and/or the SPWR Jan. 15, 2021 31 calls. At the same time, it’s also good to hedge for a potential pivot lower. We can do that with a small position in the SPWR Jan. 15, 2021 30 put, as well.

To you and yours, happy holidays.

Here’s looking forward to a very healthy, profitable 2021!

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