Bloom Energy Corp closed at USD 226.26, up 14.82%.

The stock's sharp rally was accompanied by a major wave of bullish options activity, headlined by two large, long-dated out-of-the-money call purchases totaling nearly $30.00 million in premium.

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Options Indicators

BE’s implied volatility stands at 185.04%, and with an IV percentile of 99.60%, current option volatility is sitting at an extremely elevated level relative to its own historical range. Combined with an IV/HV ratio of 1.51, this suggests the options market is pricing in substantially more future movement than the stock has recently realized, indicating that BE options are expensively priced and carry rich premium levels at the moment. The Call/Put volume ratio is 0.49.

Large Trades

A CALL purchase worth $17.23 million was the largest displayed trade, with 3,250 contracts bought at the January 15, 2027 $350.00 strike. With BE referenced at $226.26, this call is out of the money, making it a clear bullish directional bet that requires substantial upside over a long-dated horizon. The buyer paid premium outright rather than structuring a spread, which suggests conviction in a large move higher and a willingness to accept full premium risk in exchange for open-ended upside exposure.

A CALL buy worth $7.79 million was the second highlighted trade, consisting of 2,350 contracts purchased at the January 15, 2027 $480.00 strike. This strike is even further out of the money versus the current stock price, so the trade represents a higher-conviction, higher-risk bullish positioning aimed at a major upside scenario. As a single-leg premium purchase, it points to directional speculation rather than income generation or hedging, indicating that the buyer is targeting a substantial long-term rally in BE.

Overall sentiment in BE large trades was decisively bullish, with $29.55 million in bullish flow versus just $0.09 million in bearish flow, for a net difference of $29.46 million to the bullish side. The directional judgment is clearly bullish, as the dominant activity was concentrated in large long-dated upside call buying, including aggressive out-of-the-money strikes that imply expectations for a meaningful forward re-rating. The very limited bearish activity was negligible by comparison, so the large-trade profile points to strong speculative upside conviction rather than balanced positioning.

Strategy Reference

Given the elevated implied volatility, a seller of cash-secured puts at a lower strike, such as $200.00, could collect rich premium while facing a low probability of assignment near-term; alternatively, for those bullish but wanting to cap margin outlay, a bull call spread using the $350.00/$480.00 strikes could define risk.