A whale with a lot of money to spend has taken a noticeably bearish stance on Plug Power.
Looking at options history for Plug Power (NASDAQ:PLUG) we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $286,114 and 8, calls, for a total amount of $469,043.
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 $17.5 to $26.0 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 1866.29 with a total volume of 4,502.00.
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 $17.5 to $26.0 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 | PUT | TRADE | BEARISH | 04/22/22 | $25.00 | $146.4K | 56 | 962 |
| PLUG | PUT | TRADE | BEARISH | 03/11/22 | $26.00 | $110.2K | 1.1K | 1.4K |
| PLUG | CALL | TRADE | BEARISH | 03/18/22 | $25.50 | $88.2K | 611 | 539 |
| PLUG | CALL | TRADE | BULLISH | 06/17/22 | $20.00 | $84.4K | 4.1K | 201 |
| PLUG | CALL | TRADE | BULLISH | 06/17/22 | $20.00 | $82.5K | 4.1K | 101 |
Where Is Plug Power Standing Right Now?
- With a volume of 11,162,689, the price of PLUG is down -4.2% at $25.09.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 103 days.
What The Experts Say On Plug Power:
- Canaccord Genuity has decided to maintain their Hold rating on Plug Power, which currently sits at a price target of $21.
- JP Morgan has decided to maintain their Overweight rating on Plug Power, which currently sits at a price target of $38.
- RBC Capital has decided to maintain their Outperform rating on Plug Power, which currently sits at a price target of $33.
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
