Whales with a lot of money to spend have taken a noticeably bearish stance on General Motors.
Looking at options history for General Motors GM we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $356,895 and 8, calls, for a total amount of $388,065.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $39.0 to $55.0 for General Motors over the recent three 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 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 activity within a strike price range from $39.0 to $55.0 in the last 30 days.
General Motors Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GM | PUT | TRADE | NEUTRAL | 08/16/24 | $2.18 | $2.16 | $2.17 | $46.00 | $217.0K | 1.5K | 1.0K |
| GM | PUT | SWEEP | BEARISH | 08/16/24 | $4.85 | $4.8 | $4.85 | $50.00 | $86.8K | 229 | 180 |
| GM | CALL | SWEEP | BULLISH | 10/18/24 | $3.35 | $3.3 | $3.35 | $46.00 | $68.3K | 481 | 597 |
| GM | CALL | TRADE | BEARISH | 10/18/24 | $3.4 | $3.35 | $3.35 | $46.00 | $65.6K | 481 | 196 |
| GM | CALL | SWEEP | BULLISH | 07/19/24 | $1.3 | $1.29 | $1.3 | $47.00 | $56.8K | 2.3K | 2.0K |
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. 2023's share was 16.5%. GM's Cruise autonomous vehicle arm has previously done driverless geofenced AV robotaxi services in San Francisco and other cities but stopped in late 2023 after an accident. It should restart in at least one city in 2024. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.
Having examined the options trading patterns of General Motors, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of General Motors
- Currently trading with a volume of 5,607,873, the GM's price is down by -0.48%, now at $45.65.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 67 days.
Expert Opinions on General Motors
In the last month, 5 experts released ratings on this stock with an average target price of $49.0.
- An analyst from Bernstein downgraded its action to Outperform with a price target of $55.
- An analyst from Wells Fargo persists with their Underweight rating on General Motors, maintaining a target price of $30.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for General Motors, targeting a price of $60.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for General Motors, targeting a price of $45.
- An analyst from Wedbush persists with their Outperform rating on General Motors, maintaining a target price of $55.
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 Motors with Benzinga Pro for real-time alerts.
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