Unpacking the Latest Options Trading Trends in Plug Power

Financial giants have made a conspicuous bearish move on Plug Power. Our analysis of options history for Plug Power PLUG revealed 10 unusual trades.

Delving into the details, we found 0% of traders were bullish, while 100% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $336,480, and 2 were calls, valued at $84,892.

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 $2.0 for Plug Power, spanning the last three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Plug Power stands at 1935.5, with a total volume reaching 41,487.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Plug Power, situated within the strike price corridor from $1.5 to $2.0, throughout the last 30 days.

Plug Power 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Following our analysis of the options activities associated with Plug Power, we pivot to a closer look at the company's own performance.

Where Is Plug Power Standing Right Now?

• With a volume of 51,020,523, the price of PLUG is up 1.27% at $1.6.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 49 days.

What Analysts Are Saying About Plug Power

5 market experts have recently issued ratings for this stock, with a consensus target price of $1.78.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Piper Sandler keeps a Underweight rating on Plug Power with a target price of $1. * An analyst from Morgan Stanley has decided to maintain their Underweight rating on Plug Power, which currently sits at a price target of $1. * An analyst from BMO Capital persists with their Underperform rating on Plug Power, maintaining a target price of $1. * An analyst from B. Riley Securities has decided to maintain their Buy rating on Plug Power, which currently sits at a price target of $3. * An analyst from Susquehanna has decided to maintain their Neutral rating on Plug Power, which currently sits at a price target of $1.

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.