Deep-pocketed investors have adopted a bearish approach towards Plug Power PLUG, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PLUG usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 16 extraordinary options activities for Plug Power. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 7 are puts, totaling $424,012, and 9 are calls, amounting to $336,835.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $3.0 and $10.0 for Plug Power, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Plug Power options trades today is 10497.0 with a total volume of 36,560.00.
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 $3.0 to $10.0 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 | BULLISH | 01/16/26 | $10.00 | $107.2K | 3.8K | 150 |
| PLUG | PUT | SWEEP | BEARISH | 06/21/24 | $4.50 | $73.4K | 7.9K | 994 |
| PLUG | PUT | SWEEP | BEARISH | 06/21/24 | $4.00 | $72.0K | 4.3K | 536 |
| PLUG | PUT | TRADE | BULLISH | 06/21/24 | $4.50 | $61.9K | 7.9K | 1.3K |
| PLUG | CALL | SWEEP | BEARISH | 01/16/26 | $10.00 | $59.7K | 5.6K | 685 |
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.
Present Market Standing of Plug Power
- With a trading volume of 91,211,751, the price of PLUG is up by 0.81%, reaching $3.75.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 35 days from now.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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