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Bearish Options Traders Fade Plug Power’s Pop on Amazon Deal

by | Aug 25, 2022 | Options

In Thursday’s Blitz Daily with Lance Ippolito we take a look at energy name plug power after shares soar after announcing its latest deal.

After several days of being stuck in the mud, the markets saw a small relief rally Thursday, led by decent gains in the Nasdaq.

Among Thursday’s biggest movers is our old friend Plug Power.

Shares of the cutting-edge hydrogen fuel cell company soared above Wednesday’s close after PLUG unveiled its latest deal with Amazon.

Plug agreed to supply the retail behemoth with 10,950 tons of renewable liquid hydrogen to power forklifts at its hubs, and some long-haul trucks.

The news propelled PLUG’s jump as high as 14.5% above Wednesday’s closing price before traders took gains and cut the move in half…

Right before lunchtime, my scanners spotted bearish traders looking to capitalize on the fade, loading up on 725 contracts of the Oct. 21 expiration, $27.50 strike puts for $197,200 in premium!

And if that’s not enough of a spark to get the contrarian trader in you going, I have more bearish flow waiting below…

    • Uber Technologies Inc. (NYSE: UBER): Sept. 16 , $29 PUT. 
    • Plug Power Inc. (Nasdaq: PLUG): Oct. 21, $27.50 PUT.
    • Advanced Micro Devices (Nasdaq: AMD): Sept. 30, $95 PUT

Check out my short video and I’ll break down the day’s most unusual options order flow in no time flat! 

P.S. I have to imagine that most traders don’t know what it’s like to win nine trades in a row. 

I mean, most folks are thrilled with three in a row — But NINE*, that’s almost unheard of…

To say it’s been easy would be a lie…

But here we are — nine* amazing wins while most folks are getting their clocks cleaned. And all of them have come in the month of August! 

And now I’m ready to reveal the secret behind these nine straight winners…

It has nothing to do with breakouts, penny stocks, technical indicators or momentum…

But rather a particular time of the week… 

See My Secret

Blitz Daily With Lance Ippolitto

At Weekly Blitz Alerts, we follow the big fish and what they’re buying. And we do that with my proprietary Blitz Tracker, which alerts me to big, institutional options order flow throughout the day. Then we get in on these plays and follow the “smart money.”  

By doing this, we cash in whether the broader market is going up, down or sideways. 

The Blitz Daily with Lance Ippolito is where I go over a handful of options trades that hit my Blitz Tracker each day, Monday through Thursday. I will break down the trade with the sexiest order flow and tell you exactly what I think can happen with that stock by the next day’s opening bell. 

If you want in on these fast-moving options plays, with entry, exit and profit targets sent directly to you via text and email alerts, be sure to sign up for Weekly Blitz Alerts!  

In the meantime, you can follow me @LanceIppolito on Twitter, Instagram and our YouTube channel for more trading insights and tips. And as always, you can find me right here talking stocks and options trading — and printing money — on WealthPress.com!

* Stated results are atypical for given period. Past performance is not indicative of any future results. Trade at your own risk. From Sept. 24, 2021, through Aug. 24, 2022, the average win rate was 69.7%. The average return on options was 14.5% over a three-day average hold time.

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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