Deep-pocketed investors have adopted a bearish approach towards General Electric GE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 59 extraordinary options activities for General Electric. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 55% bearish. Among these notable options, 15 are puts, totaling $1,315,683, and 44 are calls, amounting to $5,401,181.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $185.0 for General Electric over the recent three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for General Electric's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across General Electric's significant trades, within a strike price range of $45.0 to $185.0, over the past month.
General Electric 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 |
|---|---|---|---|---|---|---|---|---|
| GE | CALL | SWEEP | BULLISH | 01/17/25 | $130.00 | $1.1M | 977 | 300 |
| GE | CALL | SWEEP | BEARISH | 05/17/24 | $160.00 | $666.9K | 3.1K | 1.0K |
| GE | CALL | TRADE | BEARISH | 05/17/24 | $160.00 | $438.1K | 3.1K | 428 |
| GE | CALL | TRADE | BULLISH | 01/17/25 | $140.00 | $360.1K | 960 | 111 |
| GE | CALL | TRADE | BEARISH | 06/21/24 | $120.00 | $241.7K | 1.9K | 69 |
About General Electric
GE was formed through the combination of two companies in 1892, including one with historical ties to American inventor Thomas Edison. Today, GE is a global leader in air travel and in the energy transition. The company is known for its differentiated technology and its massive industrial installed base of equipment sprawled throughout the world. That installed base most notably includes aerospace engines, gas and steam turbines, and onshore and offshore wind turbines. GE earns most of its profits on the service revenue of that equipment, which is generally higher-margin. The company is led by Danaher alumnus Larry Culp, who is leading GE through a breakup of its businesses.
After a thorough review of the options trading surrounding General Electric, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of General Electric
- Currently trading with a volume of 5,025,588, the GE's price is down by -0.51%, now at $167.1.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 43 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 Electric, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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