Is the Bottom in on Solar?

$TAN $ENPH $FSLR

I’m watching the $40-42 area in Solar ETF TAN 0.00%↑ as a potential floor.

The ETF’s two largest components are ENPH 0.00%↑ and FSLR 0.00%↑ . They make up over 20% of the ETF, and both are dealing with recent rejection at flattish 200 day moving averages.

I can’t expect much upside on any of these until the 200 day hurdles are cleared, but am considering speculating on that range in TAN 0.00%↑ via put spreads, betting on the ETF’s ability to hold $40 from here. A June 40/35 spread is currently paying around $1.05-$1.20.