ChargePoint Options: A Bull Among Bears

Chris Bishop

This article was last updated on 09/19/2022.

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Just because it’s a bear market, doesn’t mean there aren’t plenty of bullish trades when it comes to Unusual Option Activity.

Check out last week’s highly unusual options bets placed on ChargePoint (CHPT) amid the latest selloff:

Source: Market Rebellion’s Unusual Options Activity service.

Despite Wednesday’s bearish action across markets, someone was expecting a BIG upside move in CHPT — a leader in the electric vehicle (EV) charging solution space.

The very next day, ChargePoint skyrocketed over 9% after President Biden unveiled a new plan to fund a nationwide EV charging network.

It turns out the “smart money” was all over it.

Source: TD Ameritrade’s thinkorswim.

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