ChargePoint Holdings Inc (NYSE:CHPT) unusual options activity indicates increased interest

CPI number that we see this morning is going to make an impact in the market one way or another. Stocks have tumbled at the open following inflation data hotter than expected.

We have seen sustained strength in the energy sector and yesterday huge trades were noted in in CHPT in the unusual options market.

CHPT is coming out of a weekly squeeze that looks like it has the energy to continue higher from here. However does have some resistance overhead. If CHPT could potentially make a weekly close over $20.22, then you could see CHPT get to $28.  In addition to this technical setup, there was also strong activity on the unusual options yesterday.

Yesterday say $2.3 million dollars go into the out-of-the-money calls in CHPT for September. These calls weren’t aggressive order types but they were large so can’t be ignored. Additionally, there was a dark pool print in CHPT last week for almost 700,000 shares at $14.27. We are significantly above that level here.