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 23 strange trades.
If we consider the specifics of each trade, it is accurate to state that 34% of the investors opened trades with bullish expectations and 65% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $429,215 and 16, calls, for a total amount of $1,718,669.
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 $30.0 to $62.5 for General Motors 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 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 activity within a strike price range from $30.0 to $62.5 in 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 | CALL | SWEEP | BEARISH | 01/19/24 | $40.00 | $337.3K | 16.3K | 439 |
| GM | CALL | SWEEP | BEARISH | 11/18/22 | $40.00 | $313.5K | 28.7K | 1.0K |
| GM | CALL | SWEEP | BEARISH | 01/19/24 | $40.00 | $259.2K | 16.3K | 926 |
| GM | PUT | SWEEP | BEARISH | 03/17/23 | $55.00 | $151.5K | 27 | 101 |
| GM | CALL | SWEEP | BEARISH | 01/19/24 | $40.00 | $119.4K | 16.3K | 625 |
Where Is General Motors Standing Right Now?
- With a volume of 3,497,727, the price of GM is down -0.62% at $40.28.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 42 days.
What The Experts Say On General Motors:
- Wolfe Research has decided to maintain their Outperform rating on General Motors, which currently sits at a price target of $50.
- B of A Securities has decided to maintain their Buy rating on General Motors, 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 Motors, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
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.
