Investors with a lot of money to spend have taken a bearish stance on Plug Power PLUG.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, 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 these investors just did?
Today, Benzinga's options scanner spotted 19 uncommon options trades for Plug Power.
This isn't normal.
The overall sentiment of these big-money traders is split between 31% bullish and 68%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $972,357, and 9 are calls, for a total amount of $484,469.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $1.5 and $15.0 for Plug Power, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Plug Power options trades today is 8250.25 with a total volume of 61,795.00.
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 $1.5 to $15.0 over the last 30 days.
Plug Power Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PLUG | PUT | SWEEP | BEARISH | 03/15/24 | $4.50 | $400.0K | 23.0K | 9.0K |
| PLUG | PUT | SWEEP | BEARISH | 03/15/24 | $4.50 | $140.5K | 23.0K | 2.2K |
| PLUG | CALL | SWEEP | BEARISH | 06/20/25 | $5.00 | $130.9K | 6.1K | 1.4K |
| PLUG | PUT | SWEEP | BEARISH | 03/15/24 | $4.50 | $129.9K | 23.0K | 11.0K |
| PLUG | CALL | SWEEP | BEARISH | 06/20/25 | $5.00 | $78.7K | 6.1K | 1.1K |
About Plug Power
Plug Power is building an end-to-end green hydrogen ecosystem—from production, storage, and delivery to energy generation. The company plans to build and operate green hydrogen highways across North America and Europe. Plug will deliver its green hydrogen solutions directly to its customers and through joint venture partners into multiple end markets, including material handling, e-mobility, power generation, and industrial applications.
Having examined the options trading patterns of Plug Power, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Plug Power
- With a trading volume of 53,037,508, the price of PLUG is down by -0.21%, reaching $4.69.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 26 days from now.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Plug Power options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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