Wed. 24 Nov 2021, 12:48pm ETBenzinga
In: Options, Markets

A whale with a lot of money to spend has taken a noticeably bullish stance on Plug Power.

Looking at options history for Plug Power (NASDAQ:PLUG) we detected 14 strange trades.

If we consider the specifics of each trade, it is accurate to state that 57.14% of the investors opened trades with bullish expectations and 42.86% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $70,340.00 and 12, calls, for a total amount of $481,431.00.

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 $20.0 to $43.0 for Plug Power over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Plug Power's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Plug Power's whale trades within a strike price range from $20.0 to $43.0 in 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 SWEEP BULLISH 12/17/21 $40.00 $93.0K 16.4K 44
PLUG CALL TRADE BULLISH 03/18/22 $40.00 $55.4K 3.9K 68
PLUG CALL TRADE BULLISH 06/17/22 $25.00 $54.6K 2.7K 0
PLUG CALL TRADE BULLISH 01/21/22 $20.00 $44.7K 9.0K 0
PLUG CALL TRADE BEARISH 03/18/22 $40.00 $40.2K 3.9K 273

Where Is Plug Power Standing Right Now?

  • With a volume of 8,096,219.00, the price of PLUG is up 0.53% at $42.49.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 92 days.

What The Experts Say On Plug Power:

  • RBC Capital has decided to maintain their Outperform rating on Plug Power, which currently sits at a price target of $48.0.
  • Morgan Stanley has decided to maintain their Overweight rating on Plug Power, which currently sits at a price target of $65.0.

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.