The market is saying that the NatGas transportation story has legs and that the business will get legislative backing.
From What's Moving:
Clean Energy Fuels (CLNE) shares are up $1.15 to $17.47 and extending a recent rally on signs of improved government support for natural gas. Obama said last week that he believes that the commodity has “enormous” potential as an alternative to oil and also said that natural gas vehicles are one subject of bi-partisan agreement. CLNE is now up 35.2 percent since March 17.From TheStreet:
Options volume is 9,380 calls and 2,060 puts so far today. It seems that some investors are looking for the rally to continue this week and next, as April 17 and 18 calls are the most actives, with 1337 and 1889 traded, respectively, and about two thirds-traded at the ask. Jun 20 calls are the third most actives, with 1247 changed hands (88 percent ask).
Green Energy Winners: Nat Gas Vehicle Plays
Stocks in the natural gas vehicles space surged Monday, continuing the big rally that began last Wednesday with the energy policy speech from President Obama and his support for natural gas vehicle incentives as part of a plan to reduce U.S. reliance on foreign oil by one-third by 2025.
News related to the outlook for legislation to support the purchase of natural gas vehicles continues to send these stocks higher. A comment from T. Boone Pickens on Friday in the Miami Herald, and carried by the McClatchy Newspapers syndicate, predicted that legislation sponsored by both Democrat and Republicans will be introduced on Wednesday of this week to provide natural gas vehicle purchase incentives and has the bi-partison support it needs. T. Boone Pickens, who is front and center in the natural gas vehicle lobbying effort, is quoted as saying he is "supremely" confident that the legislation introduced this week has the votes to be passed into law....MORE