This alternative energy stock is more popular than SpaceX in the options pits. Here's why
Crude oil is back above $90 and energy stocks in the S&P 500 index are approaching fresh 52-week highs.
TL;DR
- Crude oil is above $90, and S&P 500 energy stocks are near 52-week highs, with a year-to-date rally over 40%.
- Options traders are showing significant interest in Bloom Energy, a power provider selling onsite fuel-cell systems.
- Bloom Energy's stock is up 1,800% over three years and has jumped over 10% recently due to high options trading volume.
- Bloom Energy will be added to the S&P 500 on September 21st.
- Bloom Energy's implied volatility is over 90%, significantly higher than other S&P 500 energy stocks.
- Options activity for the U.S. Oil Fund (USO) and State Street Energy Select Sector SPDR ETF (XLE) showed mixed signals.