BE: Nov 290/190 put spread
Bloom Energy is up 292% in a year and 8.7% last week, sits at 78% of its 52-week range and trades at 59x forward earnings into Q3 results Yahoo estimates for Oct 27. IV is at the 17th percentile, so puts are cheap for a name the chain still expects to move 26.8%; the 290/190 put spread costs $33.76 on $100 of width.
- Ticker: BE
- Direction: Bearish
- Risk profile: earnings
- Confidence: low
- Catalyst: Q3 2026 earnings (Yahoo estimate) (2026-10-27)
- Cohort: 2026-09-27
- Expires: 2026-10-04
- Max loss: $33.76
- Max gain: $66.24
Structure
- long put 290 2026-11-20
- short put 190 2026-11-20
Signals
- 1-year return: +292% (DB)
- Forward P/E: 59x; short interest 7.3% of float (web_search)
- IV percentile (52w): 17th; Nov implied move 26.8% (DB)
What invalidates this thesis
A new behind-the-meter fuel-cell order from a hyperscaler on the call would extend the run; a close above the $351 high ends the thesis.