crude oil It set me back over $90 energy stocks in S&P500 The group’s year-to-date gain is more than 40%, and the index is nearing a 52-week high.
Even though energy stocks remain the S&P 500’s best-performing sector in 2026, options traders seem unconvinced that traditional energy assets’ strength will continue. Instead, they are piled up bloom energyis an $82 billion power company that sells on-site fuel cell systems related to data centers and the industrialization of artificial intelligence.
Bloom Energy in 2026
Bloom has increased by 1,800% over the past three years. The stock rose more than 10% on Tuesday as option trading on the stock surged more than 2.5 times its 30-day average for a total premium exchange of about $500 million by midday, according to data from Cboe LiveVol and SpotGamma. That’s more than the $350 million traded in SpaceX options and dwarfs the $25 million traded. valero energythe most volatile S&P 500 energy stock.
Bloom’s stock has risen more than 30% in the past week and has soared nearly 70% since the company reported earnings in late July. S&P Dow Jones Indices announced over the weekend that the company will join the S&P 500 on September 21st.
The inclusion marks the first time energy stocks have been added to the index since 2022, said Manav Gupta, an analyst at UBS. From an options perspective, Bloom will stand out significantly among S&P Energy stocks.
According to ThinkOrSwim, Bloom’s implied volatility is currently over 90%, significantly higher than S&P 500 energy stocks. In this group, Valero has the highest volatility at 50% compared to ExxonMobil’s 30%. The most popular contract on Bloom based on Tuesday’s volume was a 300-strike call expiring on Friday, trading at $4.65 and requiring the stock to add an additional 8% to the stock price to break even.
In contrast, the option United States Oil Fund (USO) and State Street Energy Select Sector SPDR ETF (XLE) were mixed. Volume was 50% above USO’s 30-day average, trading at approximately $90 million. According to SpotGamma data, about the same number of put contracts were likely purchased as calls, and the three most popular contracts by volume were puts.
For XLE, 48,000 calls were likely bought compared to 34,000 puts, with $31 million of the $37 million total premium related to calls. According to SpotGamma, three of the top five contracts traded on XLE were puts.
