This Is What Whales Are Betting On Plug Power

This Is What Whales Are Betting On Plug Power

Someone with a lot of money to spend has taken a bullish stance on Plug Power PLUG.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with PLUG, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 14 uncommon options trades for Plug Power.

This isn't normal.

The overall sentiment of these big-money traders is split between 57% bullish and 42%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $445,516, and 5 are calls, for a total amount of $535,193.

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 $12.5 to $35.0 for Plug Power over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Plug Power options trades today is 5684.56 with a total volume of 5,010.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Plug Power's big money trades within a strike price range of $12.5 to $35.0 over the last 30 days.

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 TRADE BULLISH 12/16/22 $17.50 $312.0K 656 1.5K
PLUG PUT SWEEP BULLISH 01/20/23 $22.00 $115.9K 18.6K 177
PLUG PUT SWEEP BEARISH 12/16/22 $20.00 $89.0K 1.9K 200
PLUG CALL SWEEP BULLISH 03/17/23 $17.50 $68.6K 340 206
PLUG CALL SWEEP NEUTRAL 01/19/24 $15.00 $67.5K 3.2K 330

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
PLUG CALL TRADE BULLISH 12/16/22 $17.50 $312.0K 656 1.5K
PLUG PUT SWEEP BULLISH 01/20/23 $22.00 $115.9K 18.6K 177
PLUG PUT SWEEP BEARISH 12/16/22 $20.00 $89.0K 1.9K 200
PLUG CALL SWEEP BULLISH 03/17/23 $17.50 $68.6K 340 206
PLUG CALL SWEEP NEUTRAL 01/19/24 $15.00 $67.5K 3.2K 330

Where Is Plug Power Standing Right Now?

  • With a volume of 6,126,592, the price of PLUG is down -1.24% at $16.74.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 19 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.
  • Jefferies downgraded its action to Buy with 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.
  • JP Morgan has decided to maintain their Overweight rating on Plug Power, which currently sits at a price target of $28.

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.

Posted In: BZI-UOAOptionsMarkets