Whales with a lot of money to spend have taken a noticeably bearish stance on General Motors.
Looking at options history for General Motors GM we detected 23 trades.
If we consider the specifics of each trade, it is accurate to state that 39% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $493,785 and 18, calls, for a total amount of $1,261,366.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $50.0 for General Motors over the last 3 months.
Volume & Open Interest Development
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 $50.0 in the last 30 days.
General Motors 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GM | PUT | SWEEP | BEARISH | 09/20/24 | $50.00 | $284.2K | 9 | 0 |
| GM | CALL | TRADE | BEARISH | 09/20/24 | $25.00 | $164.7K | 2.3K | 100 |
| GM | CALL | TRADE | BULLISH | 06/21/24 | $28.00 | $132.6K | 1.6K | 100 |
| GM | CALL | TRADE | BULLISH | 06/21/24 | $28.00 | $132.0K | 1.6K | 103 |
| GM | CALL | TRADE | BULLISH | 07/19/24 | $39.00 | $103.4K | 423 | 205 |
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.
Present Market Standing of General Motors
- Trading volume stands at 3,154,712, with GM's price up by 0.39%, positioned at $40.85.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 36 days.
What Analysts Are Saying About General Motors
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $44.0.
- An analyst from Piper Sandler has revised its rating downward to Neutral, adjusting the price target to $44.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest General Motors options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
