Financial giants have made a conspicuous bullish move on General Electric. Our analysis of options history for General Electric GE revealed 49 unusual trades.
Delving into the details, we found 57% of traders were bullish, while 42% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $281,851, and 42 were calls, valued at $5,479,776.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $120.0 and $195.0 for General Electric, spanning the last three months.
Volume & Open Interest Trends
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 $120.0 to $195.0, over the past month.
General Electric Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GE | CALL | TRADE | BULLISH | 05/17/24 | $5.85 | $5.75 | $5.85 | $180.00 | $644.0K | 9.0K | 1.3K |
| GE | CALL | TRADE | BULLISH | 05/17/24 | $5.5 | $5.4 | $5.5 | $180.00 | $630.3K | 9.0K | 4.9K |
| GE | CALL | TRADE | BEARISH | 05/17/24 | $5.6 | $5.55 | $5.55 | $180.00 | $445.6K | 9.0K | 2.9K |
| GE | CALL | SWEEP | BULLISH | 05/17/24 | $6.6 | $5.8 | $6.05 | $180.00 | $424.7K | 9.0K | 503 |
| GE | CALL | TRADE | BEARISH | 01/17/25 | $29.05 | $28.35 | $28.5 | $160.00 | $367.6K | 1.4K | 132 |
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.
General Electric's Current Market Status
- With a trading volume of 3,037,346, the price of GE is up by 0.04%, reaching $175.6.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 22 days from now.
Professional Analyst Ratings for General Electric
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $185.6.
- An analyst from UBS has decided to maintain their Buy rating on General Electric, which currently sits at a price target of $191.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on General Electric, which currently sits at a price target of $200.
- An analyst from JP Morgan upgraded its action to Overweight with a price target of $180.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on General Electric with a target price of $177.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for General Electric, targeting a price of $180.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for General Electric with Benzinga Pro for real-time alerts.
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