The options flow for Bloom Energy (BE) shows a series of aggressive call sweeps targeting the June 18, 2026 expiration, with roughly 3 months until expiry. The largest cluster centers around the $100 and $110 strike calls, all executed above the ask, indicating strong buyer urgency. The top trade shows 2,476 contracts traded against open interest of 6,090, resulting in a V/OI ratio of ~0.41. This is notable and suggests these are likely new positions being opened rather than closing trades.
Across the three sweeps, total premium deployed is substantial—approximately $14M+ ($3M, $5.2M, and $5.9M)—highlighting significant institutional conviction. With spot prices ranging from $157 to $163, these calls are already deep in-the-money, reinforcing a strong stance on BE heading into mid-2026.
Volume and Open Interest Data
The volume and open interest (OI) data for BE’s $100 calls expiring June 18, 2026 shows a clear surge in recent trading activity relative to prior days. On 03/18/26, volume spiked to 2,833 contracts, open interest remained relatively stable at 6,090, resulting in a V/OI ratio of ~0.46. This is notably elevated compared to the minimal activity earlier in the week (just 4 contracts traded on 03/16 and 03/17).
Despite this large influx in volume, the OI only increased marginally (+4), suggesting that much of the trading could involve position turnover or intraday activity rather than a significant build in new positions. Meanwhile, the contract price rebounded from around $64 to $66.70, alongside a rise in implied volatility to 122%. This indicates renewed interest and increased demand for exposure, even as OI growth remains muted.
What’s Happening with BE
Bloom Energy has recently reported strong momentum, highlighted by record 2025 revenue of about $2.0 billion, up more than 35% year over year. Fourth-quarter revenue was up roughly $778 million, which beat expectations. The company delivered solid profitability and positive operating cash flow for a second straight year.
Growth is being driven largely by surging demand from AI data centers and commercial and industrial customers, and the company has built a sizable backlog of roughly $20 billion. This includes a major 20‑year, approximately $2.65 billion solid‑oxide fuel cell supply agreement with an American Electric Power subsidiary.
Management has issued an upbeat 2026 outlook, guiding to $3.1–$3.3 billion in revenue and meaningfully higher non‑GAAP operating income and EPS. Meanwhile, investors have pushed the stock sharply higher in early 2026 on the combination of record results, improving margins, and large AI‑linked and utility‑scale contracts.
About BE
Bloom Energy Corporation is a U.S.-based clean energy company that designs, manufactures, and sells solid oxide fuel cell systems that generate electricity on-site. Its primary product, the Bloom Energy Server, converts natural gas, biogas, or hydrogen into electricity through an electrochemical process — producing power with higher efficiency and lower emissions than traditional combustion-based systems.
The company focuses on providing reliable, sustainable energy solutions for commercial, industrial, and utility customers seeking to reduce carbon footprints and energy costs. Bloom Energy is also expanding into the hydrogen production and energy storage markets, positioning itself as a key player in the transition toward a decentralized and zero-carbon energy future.
Analyst Ratings
| Firm | Rating | Update Date |
|---|---|---|
| CFRA | ★★★☆☆ (3 Stars) | 03/13/2026 |
| Market Edge | Long | 01/21/2026 |
| Argus | No Data | — |
| Morningstar | ★☆☆☆☆ (1 Star) | 02/06/2026 |
| LSEG | Hold | 03/18/2026 |
| Schwab Equity Ratings | C | 03/18/2026 |
Analyst sentiment on Bloom Energy (BE) appears mixed to slightly cautious, with a blend of neutral and divergent views. While Market Edge signals a bullish “Long” stance, suggesting upside potential, other firms lean more conservative—LSEG maintains a “Hold” rating, and Schwab assigns a mid-tier “C” grade, indicating average performance expectations.
Meanwhile, Morningstar’s 1-star rating reflects a more bearish outlook, contrasting with CFRA’s moderate 3-star stance. Overall, the ratings suggest uncertainty around BE’s near-term trajectory, with no strong consensus, though selective bullish signals indicate some analysts see upside potential.
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Disclaimer: Options trading involves significant risk and is not suitable for all investors. You may lose the entire investment, and certain strategies may result in losses exceeding the initial amount invested. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice. Always consult a financial or tax advisor before making investment decisions.
