Unusual Option Activity Plug $1.4M premium traded above OI

PLUG  $1.4 M in premium traded for $29 strike calls for April 23th expiration traded Today.

Unusual Activity for $29 calls about 17,000 contracts traded around 2:39pm @ approx $0.70 (Above Open interest of only 1252)

Plug power earnings date is 05/06/2021

This stock is showing a nice hammer on the daily close today after falling past few days indicating a possible reversal in trend.

The stock has bounced off Long term support at 24.52 & also held 25.71 previous support.

It is also showing a possible cup and handle on the 15 minute chart with today's bounce. Expect support to hold and stock to keep running up towards ER after drawdown.

2 week's time on these options I would recommend a vertical spread to keep theta at bay.

Support 25.71
Resistance 27.77
Target 28.35, 28.75, 29.25 & 30.41
SL close below 25.75 new support.

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