This Is What Whales Are Betting On General Electric

This Is What Whales Are Betting On General Electric

 

Someone with a lot of money to spend has taken a bullish stance on General Electric GE.

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 GE, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 12 uncommon options trades for General Electric.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $1,530,295, and 7 are calls, for a total amount of $350,595.

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 $45.0 to $110.0 for General Electric over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for General Electric'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 Electric's whale activity within a strike price range from $45.0 to $110.0 in the last 30 days.

General Electric 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
GE PUT TRADE BULLISH 06/16/23 $70.00 $892.5K 1.9K 2.3K
GE PUT TRADE BEARISH 06/16/23 $70.00 $504.0K 1.9K 800
GE CALL SWEEP BULLISH 01/20/23 $80.00 $94.8K 4.8K 164
GE PUT SWEEP NEUTRAL 01/19/24 $100.00 $63.1K 741 25
GE CALL SWEEP BULLISH 01/20/23 $85.00 $59.2K 3.6K 165

Where Is General Electric Standing Right Now?

  • With a volume of 3,566,605, the price of GE is up 3.12% at $77.27.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 76 days.

What The Experts Say On General Electric:

  • UBS has decided to maintain their Buy rating on General Electric, which currently sits at a price target of $87.
  • Wells Fargo has decided to maintain their Equal-Weight rating on General Electric, which currently sits at a price target of $72.
  • Credit Suisse has decided to maintain their Outperform rating on General Electric, which currently sits at a price target of $84.
  • Morgan Stanley has decided to maintain their Overweight rating on General Electric, which currently sits at a price target of $95.
  • Deutsche Bank has decided to maintain their Buy rating on General Electric, which currently sits at a price target of $90.

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 Electric, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets