Three names, one theme: the infrastructure behind the next leg of power demand
By Steve Strazza
April 22, 2026
This note highlights a select group of stocks showing the most unusual — and highly directional — options activity.
The goal is simple: follow the big money and trade in the direction of the underlying trend.
Here is the list of Unusual Options activity from April 22:
*Click to enlarge view
American Superconductor $AMSC — Grid modernization and power infrastructure remain strong themes, and AMSC continues to lead.
With the stock up over 50% in the past month, traders reached higher with 808 contracts of the 6/18 $55 calls, betting on continued momentum.
Energy Vault Holdings $NRGV — Energy storage is back in focus as grid reliability and renewables stay front and center.
Bullish flow came in with 4,999 contracts of the 6/18 $5 calls, positioning for a breakout from this high-beta setup.
Fermi Inc $FRMI — Down nearly 20% over the past month, but the flow tells a different story.
A massive 48,000 contracts of the 6/18 $7 calls traded for $3.6M in premium — one of the largest prints today and a clear contrarian bet on a sharp snapback in this nuclear-powered data center play.
