Plug Power Stock Bounces on Strong Revenue Projection

Options volume is running rampant today

Deputy Editor
Oct 11, 2023 at 10:25 AM
facebook X logo linkedin


Shares of Plug Power Inc (NASDAQ:PLUG) are 4.3% higher at $7.47 at last glance, slightly down from their more than 11% premarket lead, after the company projected a massive jump in revenue. According to a regulatory filing, the hydrogen fuel cell firm said it expects revenue to rise to $6 billion by 2027, and could generate $20 billion in revenue by 2030. 

Today's options activity is running wild. So far, 45,000 calls and 15,000 puts have already crossed the tape, which is four times the volume that's typically seen at this point. Positions are opening at the most popular weekly 10/13 8-strike call  followed by the 7-strike put in that series.

At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Plug Power stock's 10-day call/put volume ratio of 3.63 stands higher than 89% of readings from the past 12 months, suggesting options traders have been optimistic. 

It's worth noting the security's Schaeffer's Volatility Scorecard (SVS) of 95 out of 100 indicates it has exceeded option traders' volatility expectations during the past year -- a boon for buyers. 

On the charts, the $8 level has acted as a ceiling since mid-September. Now bouncing from more than three-year lows, PLUG just reclaimed support form its 20-day moving average, though it's more than 39% lower in 2023.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI