General Motors Unusual Options Activity

General Motors Unusual Options Activity

Someone with a lot of money to spend has taken a bullish stance on General Motors GM.

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

Today, Benzinga's options scanner spotted 10 options trades for General Motors.

This isn't normal.

The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.

Out of all of the options we uncovered, 9 are puts, for a total amount of $325,554, and there was 1 call, for a total amount of $98,550.

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 $35.0 to $40.0 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 12092.8 with a total volume of 4,302.00.

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 $35.0 to $40.0 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 CALL TRADE BEARISH 06/16/23 $40.00 $98.5K 6.9K 221
GM PUT TRADE BULLISH 12/23/22 $37.00 $61.5K 174 1.4K
GM PUT SWEEP BULLISH 01/17/25 $35.00 $51.3K 1.4K 350
GM PUT SWEEP BULLISH 01/20/23 $35.00 $42.1K 26.1K 985
GM PUT SWEEP BEARISH 01/19/24 $35.00 $38.0K 25.7K 103

Where Is General Motors Standing Right Now?

  • With a volume of 3,424,753, the price of GM is down -1.64% at $39.24.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 57 days.

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.

Posted In: BZI-UOAOptionsMarkets