What Are Whales Doing With General Electric

What Are Whales Doing With General Electric

A whale with a lot of money to spend has taken a noticeably bearish stance on General Electric.

Looking at options history for General Electric GE we detected 20 strange trades.

If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 65% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $4,460,581 and 15, calls, for a total amount of $760,533.

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 $60.0 to $80.0 for General Electric 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 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 trades within a strike price range from $60.0 to $80.0 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 BEARISH 03/17/23 $80.00 $4.2M 173 4.6K
GE CALL SWEEP BEARISH 01/19/24 $75.00 $145.5K 881 163
GE PUT SWEEP BEARISH 06/16/23 $60.00 $115.9K 1.2K 472
GE CALL TRADE BEARISH 01/19/24 $75.00 $76.4K 881 509
GE CALL SWEEP BEARISH 01/20/23 $75.00 $71.3K 4.0K 267

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GE PUT TRADE BEARISH 03/17/23 $80.00 $4.2M 173 4.6K
GE CALL SWEEP BEARISH 01/19/24 $75.00 $145.5K 881 163
GE PUT SWEEP BEARISH 06/16/23 $60.00 $115.9K 1.2K 472
GE CALL TRADE BEARISH 01/19/24 $75.00 $76.4K 881 509
GE CALL SWEEP BEARISH 01/20/23 $75.00 $71.3K 4.0K 267

Where Is General Electric Standing Right Now?

  • With a volume of 2,674,453, the price of GE is up 0.42% at $76.42.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 62 days.

What The Experts Say On General Electric:

  • Credit Suisse has decided to maintain their Outperform rating on General Electric, which currently sits at a price target of $84.
  • UBS has decided to maintain their Buy rating on General Electric, which currently sits at a price target of $87.

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