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 14 strange trades.
If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 57% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $1,462,137 and 7, calls, for a total amount of $470,074.
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 $29.0 to $40.0 for General Motors 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 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 trades within a strike price range from $29.0 to $40.0 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 | PUT | TRADE | BULLISH | 08/18/23 | $29.00 | $720.0K | 109 | 0 |
| GM | PUT | SWEEP | BULLISH | 08/18/23 | $31.00 | $337.7K | 293 | 3.0K |
| GM | CALL | SWEEP | BEARISH | 01/19/24 | $40.00 | $202.7K | 38.8K | 17 |
| GM | PUT | SWEEP | BULLISH | 06/16/23 | $32.00 | $137.5K | 11.2K | 2.5K |
| GM | PUT | SWEEP | BEARISH | 12/15/23 | $35.00 | $97.5K | 5.2K | 250 |
Where Is General Motors Standing Right Now?
- With a volume of 4,518,040, the price of GM is up 2.36% at $33.63.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 63 days.
What The Experts Say On General Motors:
- Morgan Stanley upgraded its action to Overweight with a price target of $38
- RBC Capital has decided to maintain their Outperform rating on General Motors, which currently sits at a price target of $48.
- Mizuho has decided to maintain their Neutral rating on General Motors, which currently sits at a price target of $37.
- Barclays has decided to maintain their Equal-Weight rating on General Motors, which currently sits at a price target of $42.
- Wedbush downgraded its action to Outperform with a price target of $46
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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