2 Stocks Plummeting as the Sun Sets on Solar

Industry Overview - The alternative energy sector is experiencing a significant decline due to the U.S. Senate's version of President Trump's spending bill, which maintains cuts to solar and wind tax credits, with renewable energy incentives introduced by former President Biden set to be fully phased out by 2028 [1] Company Performance - First Solar Inc (NASDAQ:FSLR) is down 19.5% at $141, marking its worst single-session percentage loss since December 2011, and is down 45.6% year-over-year [2] - Enphase Energy Inc (NASDAQ:ENPH) is down 23.9% at $34.97, trading at five-year lows, and is down 70.8% year-over-year, following a peak of $130.08 on August 26 [3] Options Activity - Options traders are actively targeting FSLR, with 48,000 calls and 30,000 puts exchanged, which is six times the typical options volume for this time in a session, with the July 185 call being the most popular [4] - ENPH has seen 39,000 calls and 44,000 puts, eight times the intraday average options volume, with the June 32 put being the most active contract [5]