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What Are Whales Doing With Plug Power

BY Benzinga
— 4:50 PM ET 05/16/2022

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 17 strange trades.

If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 64% with bearish.

From the overall spotted trades, 13 are puts, for a total amount of $920,127 and 4, calls, for a total amount of $127,005.

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 $14.0 to $45.0 for Plug Power over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $14.0 to $45.0 in the last 30 days.

Plug Power Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
PLUG PUT TRADE BEARISH 06/17/22 $30.00 $149.9K 8.4K 0
PLUG PUT SWEEP NEUTRAL 01/19/24 $30.00 $135.0K 1.1K 346
PLUG PUT SWEEP BEARISH 06/17/22 $25.00 $103.3K 14.1K 129
PLUG PUT SWEEP NEUTRAL 01/19/24 $30.00 $88.9K 1.1K 554
PLUG PUT TRADE BULLISH 01/20/23 $17.00 $79.9K 2.8K 150

Where Is Plug Power Standing Right Now?

  • With a volume of 23,698,003, the price of PLUG is down -3.53% at $14.5.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 80 days.

What The Experts Say On Plug Power:

  • Truist Securities downgraded its action to Hold with a price target of $27
  • Craig-Hallum has decided to maintain their Buy rating on Plug Power, which currently sits at a price target of $31.
  • RBC Capital has decided to maintain their Outperform rating on Plug Power, which currently sits at a price target of $18.

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 {d[company_name]}, Benzinga Progives you real-time options trades alerts.

More PLUG News

  • BRIEF-Saudi's Public Investment Fund Cuts Share Stake In Walmart, Visa
    Reuters - 4:48 PM ET 05/16/2022
  • Barron's Latest Picks And Pans: Robinhood, Twitter, Redbox, United Airlines And More
    Benzinga - 4:14 PM ET 05/14/2022
  • Benzinga Bulls And Bears Of The Week: General Motors, Plug Power, Disney, Twitter, Palantir And More
    Benzinga - 11:41 AM ET 05/14/2022
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