Iger Extends Stay as Disney CEO, Call Traders Chime In

Bulls are targeting Plug Power stock too, after its big Europe deal

Deputy Editor
Jul 13, 2023 at 3:24 PM
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As the stock market continues to rally, here are three notable stocks making moves today. 

Plug Power Inc (NASDAQ:PLUG) stock is up 7.9% at $12.41 at last glance, and pacing for its fifth-straight daily win, after the company secured the largest project in the oil and gas sector in Europe. The hydrogen cell concern will provide 100 megawatts of proton exchange membrane electrolyzers that will generate 43 tons of green hydrogen per day, delivered and installed by 2024.

On the charts, pressure from PLUG's 180-day moving average lingers overhead, a trendline that capped its February peak. In the options pits, 173,000 calls and 41,000 puts exchanged so far represent double the average daily volume. Expiring tomorrow, the weekly 7/14 13-strike call is the most active contract, with positions being bought to open there. 

The shares of SoFi Technologies Inc (NASDAQ:SOFI) are down 0.8% at $9.13, after a downgrade from Morgan Stanley to "underweight" from "equal weight." This marks the first downgrade SOFI has received in over two years. Year-to-date, the equity is up 97.7%, though the stock has been seeing some pressure around the $9.50 level. 

Walt Disney Co (NYSE:DIS) is in the spotlight as well, after reports that Bob Iger will extend his surprise return as CEO until 2026. Walt Disney stock has been consolidating around the $90 level for roughly a month, while carrying a 2.6% year-over-year deficit. Options bulls appear to be buying the dip, with 205,000 calls across the tape so far -- double what's typically seen at this point. The weekly 7/14 91-strike call is the most popular, with new positions being bought to open there. 


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