Someone with a lot of money to spend has taken a bearish stance on General Dynamics GD.
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 GD, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for General Dynamics.
This isn't normal.
The overall sentiment of these big-money traders is split between 10% bullish and 90%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $28,910, and 9, calls, for a total amount of $376,876..
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 $200.0 to $240.0 for General Dynamics 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 Dynamics'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 Dynamics's whale activity within a strike price range from $200.0 to $240.0 in the last 30 days.
General Dynamics 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 |
|---|---|---|---|---|---|---|---|---|
| GD | CALL | SWEEP | BEARISH | 10/20/23 | $220.00 | $76.5K | 587 | 66 |
| GD | CALL | TRADE | BEARISH | 10/20/23 | $220.00 | $52.5K | 587 | 126 |
| GD | CALL | TRADE | NEUTRAL | 10/20/23 | $220.00 | $52.5K | 587 | 96 |
| GD | CALL | SWEEP | BEARISH | 10/20/23 | $225.00 | $37.9K | 228 | 40 |
| GD | CALL | TRADE | BEARISH | 10/20/23 | $220.00 | $35.9K | 587 | 21 |
Where Is General Dynamics Standing Right Now?
- With a volume of 539,339, the price of GD is down -0.3% at $237.24.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 5 days.
What The Experts Say On General Dynamics:
- Deutsche Bank downgraded its action to Buy with a price target of $271
- Berenberg has decided to maintain their Market Perform rating on General Dynamics, which currently sits at a price target of $258.
- Susquehanna downgraded its action to Positive with a price target of $270
- UBS downgraded its action to Neutral with a price target of $265
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 Dynamics, 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 |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
