Looking At General Motors's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bearish approach towards General Motors GM, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GM usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for General Motors. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 3 are puts, totaling $131,359, and 5 are calls, amounting to $391,751.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $25.0 and $43.0 for General Motors, spanning the last three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for General Motors's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of General Motors's whale trades within a strike price range from $25.0 to $43.0 in the last 30 days.

General Motors Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GM CALL SWEEP BULLISH 09/20/24 $25.00 $152.0K 2.4K 100
GM CALL TRADE NEUTRAL 06/21/24 $28.00 $119.5K 1.7K 0
GM PUT SWEEP BULLISH 05/17/24 $40.00 $65.5K 4.8K 788
GM CALL SWEEP BEARISH 07/19/24 $43.00 $53.9K 173 312
GM PUT SWEEP BEARISH 03/22/24 $40.50 $36.5K 189 519

About General Motors

General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial. The United States now has four brands instead of eight under old GM. The company regained its U.S. market share leader crown in 2022, after losing it to Toyota due to the chip shortage in 2021. 2023's share was 16.5%. GM's Cruise autonomous vehicle arm has previously done driverless geofenced AV robotaxi services in San Francisco and other cities but stopped in late 2023 after an accident. It should restart in at least one city in 2024. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.

Following our analysis of the options activities associated with General Motors, we pivot to a closer look at the company's own performance.

General Motors's Current Market Status

  • Trading volume stands at 4,399,946, with GM's price up by 0.61%, positioned at $39.45.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 41 days.

What The Experts Say On General Motors

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $88.0.

  • Maintaining their stance, an analyst from Tigress Financial continues to hold a Strong Buy rating for General Motors, targeting a price of $88.

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 want to stay updated on the latest options trades for General Motors, Benzinga Pro gives you real-time options trades alerts.

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Posted In: OptionsMarketsBZI-UOA
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