27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
A whale with a lot of money to spend has taken a noticeably bullish stance on Plug Power.
Looking at options history for Plug Power (NASDAQ:PLUG) we detected 13 strange trades.
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If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $433,776 and 4, calls, for a total amount of $226,383.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $30.0 for Plug Power over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Plug Power's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Plug Power's whale trades within a strike price range from $10.0 to $30.0 in the last 30 days.
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Plug Power Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PLUG | CALL | SWEEP | BEARISH | 01/20/23 | $15.00 | $106.9K | 4.4K | 380 |
| PLUG | PUT | SWEEP | BULLISH | 10/28/22 | $22.00 | $88.5K | 265 | 401 |
| PLUG | PUT | SWEEP | BULLISH | 01/19/24 | $10.00 | $54.1K | 530 | 30 |
| PLUG | PUT | TRADE | BEARISH | 03/17/23 | $15.00 | $51.6K | 6.3K | 50 |
| PLUG | PUT | TRADE | BULLISH | 03/17/23 | $12.50 | $48.8K | 6.5K | 502 |
Where Is Plug Power Standing Right Now?
- With a volume of 11,045,233, the price of PLUG is down -0.3% at $16.28.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 18 days.
What The Experts Say On Plug Power:
- B. Riley Securities has decided to maintain their Buy rating on Plug Power, which currently sits at a price target of $31.
- JP Morgan has decided to maintain their Overweight rating on Plug Power, which currently sits at a price target of $28.
- BMO Capital has decided to maintain their Market Perform rating on Plug Power, which currently sits at a price target of $26.
- RBC Capital has decided to maintain their Outperform rating on Plug Power, which currently sits at a price target of $24.
- Canaccord Genuity downgraded its action to Hold with a price target of $16
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Plug Power, Benzinga Pro gives you real-time options trades alerts.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.