A whale with a lot of money to spend has taken a noticeably bearish stance on General Motors.
Looking at options history for General Motors GM we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 10% of the investors opened trades with bullish expectations and 90% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $446,025 and 3, calls, for a total amount of $102,760.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $47.0 for General Motors over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for General Motors options trades today is 3300.2 with a total volume of 9,373.00.
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 $40.0 to $47.0 over the last 30 days.
General Motors Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GM | PUT | SWEEP | BEARISH | 04/14/22 | $44.00 | $153.4K | 2.7K | 861 |
| GM | PUT | SWEEP | BEARISH | 04/14/22 | $44.00 | $79.2K | 2.7K | 1.8K |
| GM | PUT | SWEEP | BEARISH | 06/17/22 | $47.00 | $69.5K | 7.6K | 159 |
| GM | CALL | TRADE | NEUTRAL | 01/19/24 | $43.00 | $46.2K | 327 | 50 |
| GM | PUT | SWEEP | BEARISH | 04/14/22 | $44.00 | $43.2K | 2.7K | 1.2K |
Where Is General Motors Standing Right Now?
- With a volume of 1,736,986, the price of GM is down -1.64% at $42.47.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 29 days.
What The Experts Say On General Motors:
- Benchmark has decided to maintain their Buy rating on General Motors, which currently sits at a price target of $75.
- Wolfe Research has decided to maintain their Outperform rating on General Motors, which currently sits at a price target of $70.
- Jefferies has decided to maintain their Hold rating on General Motors, which currently sits at a price target of $44.
- Wells Fargo has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $72.
- Morgan Stanley has decided to maintain their Equal-Weight rating on General Motors, which currently sits at a price target of $50.
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.
© 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.
