The bears are stirring in the normally placid world of Plug Power PLUG.
Retail traders may want to take heed.
Today saw a flurry of unusual options trades for Plug Power, signaling a departure from the routine.
Whether these are institutional moves or the handiwork of deep-pocketed individuals remains an enigma. What is apparent, however, is that such sizable activity often hints at prescient knowledge.
So, what exactly have these well-heeled investors done?
The options scanner at Benzinga picked up on 19 uncommon options trades for Plug Power today, a rather aberrant occurrence.
Notably, the overall sentiment of these big-money traders is divided, with 31% projecting a bullish stance and a commanding 68% adopting a bearish outlook.
Within this assortment, 10 puts were traded, totaling $972,357, paired with 9 calls amounting to $484,469.
Predicting Price Movements
In scrutinizing the trading volumes and Open Interest, it becomes evident that the major market movers are fixating on a price spectrum ranging from $1.5 to $15.0 for Plug Power over the past three months.
Volume & Open Interest Dynamics
In the realm of liquidity and interest, the mean open interest for Plug Power options trades today has been calculated at 8250.25, with a total volume of 61,795.00.
The chart tracks the evolution of volume and open interest for call and put options within a strike price range of $1.5 to $15.0 pertaining to Plug Power’s major trades over the last 30 days.
Analysis of Plug Power Option Activity in the Last 30 Days
Standout Options Uncovered:
| 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 |
Exploring Plug Power
Plug Power is forging an all-encompassing green hydrogen ecosystem—from production, storage, and distribution to energy generation.
The company has ambitious plans to construct and operate green hydrogen highways across North America and Europe, undertaking to furnish its green hydrogen solutions directly and through collaborative ventures to diverse end markets, including material handling, e-mobility, power generation, and industrial applications.
The Current Position of Plug Power in the Market
- With a trading volume of 53,037,508, PLUG has dipped by -0.21%, settling at $4.69.
- Indications from the current RSI values suggest that the stock may be approaching an overbought zone.
- The forthcoming earnings report looms just 26 days ahead.
Options trading introduces both elevated risks and potential rewards. Discerning traders adeptly manage these risks by perpetually broadening their knowledge, adapting their strategies, monitoring multiple indicators, and vigilantly tracking market movements. Keep abreast of the latest Plug Power options trades with real-time alerts from Benzinga Pro.