The shares of Bloom Energy Corp (NYSE:BE) are up 2.7% to trade at $140.40 at last glance, after the company's fourth-quarter profits of 45 cents per share and revenue of $777.68 both beat estimates. The fuel-cell name also provided strong full-year guidance, after which no fewer than seven analysts lifted their price targets.
Today's pop isn't enough to erase the past two days of losses, but BE is on its way back toward its Feb. 3, record high of $176.44. Some of today's gains could be attributed to short covering, as heading into today, short interest represented 9.3% of the stock's available float. Year to date, the equity is up 72%.
Options traders are targeting Bloom Energy stock straight out of the gate. So far today, 28,000 calls and 18,000 puts have already been exchanged, which is double the overall options volume typically seen at this point. The weekly 2/6 150-strike call is most popular, followed by the 165-strike call in the same series, with positions opening at the former and expiring at the close.
It's also worth noting that BE has tended to exceed options traders' volatility expectations over the past year, per its Schaeffer's Volatility Scorecard (SVS) of 88 out of 100.
