Check Out What Whales Are Doing With General Motors

High-rolling investors have positioned themselves bullish on General Motors GM, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GM often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 13 options trades for General Motors. This is not a typical pattern.

The sentiment among these major traders is split, with 53% bullish and 46% bearish. Among all the options we identified, there was one put, amounting to $234,675, and 12 calls, totaling $1,045,793.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $25.0 and $40.0 for General Motors, spanning the last three months.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in General Motors's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to General Motors's substantial trades, within a strike price spectrum from $25.0 to $40.0 over the preceding 30 days.

General Motors Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About General Motors

General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial. The United States now has four brands instead of eight under old GM. The company regained its U.S. market share leader crown in 2022, after losing it to Toyota due to the chip shortage in 2021, with share up 170 basis points to 16.4%, a full percentage point ahead of Toyota. GM's Cruise autonomous vehicle arm is providing driverless geofenced AV robotaxi services in San Francisco and other cities and has an exclusive deal with Dubai to do the same. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.

Present Market Standing of General Motors

• With a trading volume of 6,310,274, the price of GM is down by -0.53%, reaching $27.99.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 75 days from now.

Expert Opinions on General Motors

5 market experts have recently issued ratings for this stock, with a consensus target price of $40.8.

• An analyst from Barclays has elevated its stance to Overweight, setting a new price target at $37.
• An analyst from Barclays persists with their Equal-Weight rating on General Motors, maintaining a target price of $37.
• An analyst from Goldman Sachs persists with their Buy rating on General Motors, maintaining a target price of $42.
• Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for General Motors, targeting a price of $48.
• An analyst from Morgan Stanley persists with their Overweight rating on General Motors, maintaining a target price of $40.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest General Motors options trades with real-time alerts from Benzinga Pro.