Ticker Options Intelligence

PLUG options intelligence

Plug Power Inc options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 47 Market data through 31 Jul 2026 Checked 1 Aug 2026 16:27 · complete available chain

Volatility expansion watch

Volatility pressure

PLUG currently carries volatility options pressure with a 47/100 conviction score. The nearest-chain expected move is 9.5%, with volume/open-interest participation at 0.02.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Volatility

Volatility expansion watch

Expected move 9.5%

Wider near-term move priced

Activity / OI 0.02

Current volume is quieter versus prior open interest

Put-call 0.26

Call-side skew

Trend fit 0

Options are not fully confirming trend

Weekly backdrop -1.4%

RS -22.2

Expected move 9.5%
Put-call volume 0.26
Volume / OI 0.02
Reference IV 1.53
Max pain 2.00
Underlying 2.06
Nearest expiry 7 Aug 2026
Contracts 232

Research Brief

PLUG has a volatility chain read with 47/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 1.86–2.26; The largest call open-interest concentration is 3.00; the largest put concentration is 2.00. The most active strike by current volume is 2.00.

Priced range1.86–2.26
Call concentration3.00
Put concentration2.00
Max pain reference2.00
What would confirm it
  • A clear directional pressure reading develops and price begins to agree.
What would weaken it
  • Volatility falls and the chain remains directionally mixed.
  • Options and the weekly trend are not yet giving the same message.
  • Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 7 Aug

Options imply 1.86 to 2.26. Max pain at 2.00 sits inside that range, 2.9% below spot.

Spot Max pain
1.862.06 ± 0.202.26
Confirmation level

A close beyond 2.26 or below 1.86 at the 7 Aug expiry would exceed the move currently priced by this chain.

Important limitation

The range is a pricing reference, not a forecast; volatility can reprice sharply after news or as expiry approaches.

Score Construction

Why conviction is 47/100

Evidence alignment, not probability

Pressure is 68/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure68 × 42%
+28.5

How strongly activity leans toward calls or puts.

Participation40 × 22%
+8.9

Volume relative to existing open interest and contract-level activity.

Trend agreement0 × 26%
+0.0

How closely the chain read agrees with the underlying trend backdrop.

Volatility94 × 10%
+9.4

The intensity of implied volatility and the priced move.

Reconstructed score46.8Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 3.00; the largest put concentration is 2.00. The most active strike by current volume is 2.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
0
0.50-75.7%
6
1
1.00-51.5%
4
154
1.50-27.2%
157
1111
2.00-2.9%
1743
226
2.5021.4%
3835
39
3.0045.6%
3902
6
3.5069.9%
862
0
4.0094.2%
108
6
4.50118.4%
79
3
5.00142.7%
8
0
5.50167.0%
1
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.69× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

1.53 7 Aug 7d
0.96 14 Aug 14d
0.96 21 Aug 21d
1.02 28 Aug 28d
1.01 4 Sep 35d
0.99 11 Sep 42d
0.99 18 Sep 49d
0.96 18 Dec 140d

Volatility by Strike

Smile incomplete

Nearest expiry, within 20% of spot

There is not enough comparable OTM call and put volatility to classify the smile.

2
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

Forward validation is building. The earliest eligible stored read expires 31 Jul 2026; its result will appear after the matched closing reference is stored.

Directional follow-through-
Moves contained by pricing-
Average expiry move-
Validation readiness
  • Versioned calculationv2 observations only
  • Independent entryone read per market session
  • Point-in-time referencerequired at entry
  • Matched expiry closereported only after maturity

Only v2 snapshots with a point-in-time market reference are eligible. Each observation uses one read per market session and the first weekly close on or immediately after expiry. It is an evidence audit, not an executable strategy or evidence of future performance.

Evidence Quality

High

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
232 / 232
  • No material coverage gap was detected in the retained chain.

Aggregate chain data supports concentration, participation and pricing analysis. It does not identify trade aggressor, opening versus closing activity, multi-leg intent or dealer inventory.

Options Intent Radar

Earnings/event positioning

90/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence Volatility flow versus price

Options are pricing movement more than direction; compare expected move with the stock's actual weekly change.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $254488 of estimated gross traded notional, calls · 91+ days · otm, and a volatility flow versus price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+68
1W price-1.4%
Call premium56%
Put premium44%
Notional split C 56% / P 44% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.02 Volume divided by open interest across the visible chain.
Trend fit 0/100 Agreement between options pressure and Sharemaestro market context.
Event window 10 Aug Matched earnings event is 8 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Calls · 91+ days · OTM
Calls · 91+ days · OTM calls cluster with 1262 contracts traded, $40726 estimated gross traded notional, and 16% of visible notional.
$40726
Calls · 91+ days · ITM calls cluster with 479 contracts traded, $35762 estimated gross traded notional, and 14% of visible notional.
$35762
Puts · 91+ days · OTM puts cluster with 725 contracts traded, $29308 estimated gross traded notional, and 12% of visible notional.
$29308
Puts · 46-90 days · ITM puts cluster with 272 contracts traded, $27928 estimated gross traded notional, and 11% of visible notional.
$27928
Calls · 8-21 days · ITM calls cluster with 1118 contracts traded, $25070 estimated gross traded notional, and 10% of visible notional.
$25070

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Negative Options disagreement

Options positioning is not confirming the underlying trend context.

Activity Anomaly

Warming up

-

3 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.

Baseline: 3 completed sessions

Volume rank-
Volume/OI rank-
IV rank-

Market Context

Underlying confirmation

Sharemaestro weekly
Close2.06
1W-1.4%
RS-22.2
Fair value-28.0%
Options pressure68
Speculation40
Volatility94
Trend fit0

Today Versus Normal

Stored-options context

View history
Expected move 9.5% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 1.53 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.26 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.02 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:37 Bullish
Pressure 59
Move 7.4%
30 Jul 10:34 Volatility
Pressure -34
Move 7.2%
30 Jul 17:37 Bullish
Pressure 60
Move 4.5%
30 Jul 19:40 Bullish
Pressure 60
Move 3.6%
30 Jul 20:02 Bullish
Pressure 62
Move 4.5%
30 Jul 20:31 Bullish
Pressure 63
Move 5.3%
1 Aug 15:27 Volatility
Pressure 68
Move 9.5%

Strike Map

Where activity is clustering

Full strike map
Strike0.50
Calls · V 0 · OI 6
Puts · V 0 · OI 0
Strike1.00
Calls · V 1 · OI 4
Puts · V 1 · OI 1
Strike1.50
Calls · V 1 · OI 157
Puts · V 2 · OI 154
Strike2.00
Calls · V 305 · OI 1743
Puts · V 593 · OI 1111
Strike2.50
Calls · V 655 · OI 3835
Puts · V 7 · OI 226
Strike3.00
Calls · V 36 · OI 3902
Puts · V 3 · OI 39
Strike3.50
Calls · V 2 · OI 862
Puts · V 0 · OI 6
Strike4.00
Calls · V 1 · OI 108
Puts · V 2 · OI 0

Term Structure

Expiration activity

Volume and IV
Expiry7 Aug 2026
Contracts22
Avg IV1.53
Put-call0.61
Expiry14 Aug 2026
Contracts22
Avg IV0.96
Put-call0.02
Expiry21 Aug 2026
Contracts22
Avg IV0.96
Put-call0.34
Expiry28 Aug 2026
Contracts20
Avg IV1.02
Put-call0.33
Expiry4 Sep 2026
Contracts18
Avg IV1.01
Put-call1.74

Skew

Call/put IV balance

OTM demand
7 Aug 2026Call IV premium
Call IV0.96
Put IV0.87
Skew-0.09
14 Aug 2026Balanced skew
Call IV1.02
Put IV1.07
Skew0.05
21 Aug 2026Balanced skew
Call IV1.03
Put IV0.98
Skew-0.05
28 Aug 2026Balanced skew
Call IV1.00
Put IV1.04
Skew0.04
4 Sep 2026Balanced skew
Call IV1.02
Put IV0.97
Skew-0.05

Contract Tape

Most active contracts

Full contract tape
ContractPLUG260814C00002500
SideCall
Expiry14 Aug 2026
Strike2.50
Volume2855
OI2118
IV1.02
ContractPLUG260807C00002500
SideCall
Expiry7 Aug 2026
Strike2.50
Volume655
OI3835
IV0.96
ContractPLUG260814C00002000
SideCall
Expiry14 Aug 2026
Strike2.00
Volume613
OI714
IV0.92
ContractPLUG261218P00002000
SidePut
Expiry18 Dec 2026
Strike2.00
Volume595
OI27715
IV0.96
ContractPLUG260807P00002000
SidePut
Expiry7 Aug 2026
Strike2.00
Volume593
OI1111
IV0.87
ContractPLUG260821C00002000
SideCall
Expiry21 Aug 2026
Strike2.00
Volume451
OI1758
IV0.96
ContractPLUG260918C00004000
SideCall
Expiry18 Sep 2026
Strike4.00
Volume425
OI22822
IV1.22
ContractPLUG260807C00002000
SideCall
Expiry7 Aug 2026
Strike2.00
Volume305
OI1743
IV0.77