Wednesday, September 8, 2010

JA Solar (Nasdaq:JASO) Soars on New Agreements

JA Solar Holdings Co. (Nasdaq:JASO) announced today it had signed a number of new agreements to supply over 500 megawatts of solar cells to their customers. Delivery is scheduled for 2011.

CEO Peng Fang said in a statement, “We are pleased to have secured these new supply contracts for next year delivery, which further improves our 2011 visibility and reflects our continued leadership in supplying high-quality solar products to the industry.”

Fang added there is there is "very strong demand" for the China-based company's products.

Option traders jumped on the news, with bulls preferring the September $7.50 strike and the October $7.00 strike. But almost every major strike in September, October and November had buyers, although in smaller lots.

JA Solar was up to $7.14, gaining $0.66, or 10.19 percent, as of 12:51 PM EDT.

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