This Is What Whales Are Betting On General Motors

Investors with a lot of money to spend have taken a bullish stance on General Motors (NYSE:GM).

And retail traders should know.

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

Whether these are institutions or just wealthy individuals, 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 these investors just did?

Today, Benzinga's options scanner spotted 18 uncommon options trades for General Motors.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 33%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $82,548, and 16 are calls, for a total amount of $2,550,222.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $32.0 to $65.0 for General Motors over the last 3 months.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in General Motors's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to General Motors's substantial trades, within a strike price spectrum from $32.0 to $65.0 over the preceding 30 days.

General Motors Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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 three segments: GM North America, GM International, and GM Financial. The United States now has four brands instead of eight under old GM. The company regained its US market share leadership in 2022, after losing it to Toyota due to the chip shortage in 2021. 2024's share was 17.0%. The Cruise autonomous vehicle arm, which GM now owns outright, previously operated driverless geofenced AV robotaxi services in San Francisco and other cities, but after a 2023 accident, GM decided that it will focus on personal AVs. GM Financial became the company's captive finance arm in 2010 via the purchase of AmeriCredit.

Having examined the options trading patterns of General Motors, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is General Motors Standing Right Now?

• Trading volume stands at 10,033,107, with GM's price up by 12.36%, positioned at $65.17.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 0 days.

Professional Analyst Ratings for General Motors

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $60.8.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on General Motors with a target price of $77. * Consistent in their evaluation, an analyst from Jefferies keeps a Hold rating on General Motors with a target price of $55. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Underweight rating on General Motors with a target price of $40. * Consistent in their evaluation, an analyst from Mizuho keeps a Outperform rating on General Motors with a target price of $67. * In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $65.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for General Motors with Benzinga Pro for real-time alerts.