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Hawk’s Nest

EV Charging Technology Provider Sees Bullish Flow into Strength

by | Aug 12, 2022

ChargePoint (CHPT) with 5000 November $26 calls sold at $0.80, stock tied buy write willing to be called away 40% higher by November. This is a bullish delta trade as a covered call is long stock and short a farther OTM call looking for a ceiling. The stock also saw a shorter term buyer of September $19 calls at $1.88 for over 1700 contracts. The weekly chart looks poised to breakout into yearly value area above 19 and move up to 23.50 yearly VPOC at minimum. CHPT also has a high 25% short float so a bigger squeeze potential.