What Are The Investors Doing With General Motors

Someone with a lot of money to spend (and possibly insider knowledge) has taken an unusually bullish stance on General Motors.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with GM, it often means somebody knows something is about to happen.

So how do we know what the Smart Money just did?

Today, Benzinga's options scanner spotted 20 uncommon options trades for General Motors (NYSE:GM).

This isn't normal.

The overall sentiment of these big-money traders is split between 55.0% bullish and 45.0%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $109,578, and 17 are calls, for a total amount of $921,965.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that the smart money is targeting a price range from $46.0 to $52.5 for General Motors in the over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the total open interest for General Motors big money options trades today is 143,442 with a total volume of 33,336.

In the following chart, we are able to follow the development of volume and open interest of call and put options for General Motors's big money trades within a strike price range of $46.0 to $52.5 over the last 30 days.

General Motors Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is General Motors Standing Right Now?

• With a volume of 8,959,792, the price of GM is up -0.72% over the last 24 hours at $51.15.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 40 days.

What The Experts Say On General Motors:

• Barclays has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $68.0.
• Wells Fargo has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $63.0.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely. If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.