With the imminent passing of the inflation reduction act, which is going to pour money into green energy projects, we are seeing a lot of green names blow higher.
ChargePoint (CHPT) , Blink (BLNK) , Plug Power (PLUG) , even lowly FuelCell Energy (FCEL) is up 6.7% today. Typically, with this type of movement, there is buying ahead of a bill signing ... then after the fact there is some selling. I think we are going to see some of that here. The $5 puts in FCEL for Aug. 19 are only about $0.20. I think they will end up back in the money and I would be a buyer.
Trade: Buy to open FCEL Aug. 19 $5 puts for about $0.20.
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There's a lot to like about this name, but a lot that also sows the seeds of caution.
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