Deep-pocketed investors have adopted a bearish approach towards GE Vernova GEV, 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 GEV usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for GE Vernova. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $82,095, and 6 are calls, amounting to $292,076.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $160.0 to $260.0 for GE Vernova over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for GE Vernova options trades today is 675.83 with a total volume of 129.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for GE Vernova's big money trades within a strike price range of $160.0 to $260.0 over the last 30 days.
GE Vernova Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GEV | CALL | TRADE | BEARISH | 07/19/24 | $12.6 | $10.8 | $11.32 | $175.00 | $113.2K | 1.4K | 3 |
| GEV | CALL | SWEEP | BEARISH | 06/21/24 | $7.7 | $7.2 | $7.2 | $170.00 | $48.9K | 1.6K | 101 |
| GEV | CALL | TRADE | NEUTRAL | 06/21/24 | $16.1 | $15.2 | $15.6 | $160.00 | $46.8K | 545 | 2 |
| GEV | PUT | TRADE | BEARISH | 01/17/25 | $83.6 | $80.6 | $82.4 | $260.00 | $41.2K | 5 | 0 |
| GEV | PUT | TRADE | BULLISH | 01/17/25 | $84.0 | $80.3 | $81.79 | $260.00 | $40.8K | 5 | 5 |
About GE Vernova
GE Vernova is a global leader in the electric power industry, with products and services that generate, transfer, convert, and store electricity. The company has three business segments: power, wind, and electrification. Power includes gas, nuclear, hydroelectric, and steam technologies, providing dispatchable power. The wind segment includes wind generation technologies, inclusive of onshore and offshore wind turbines and blades. Electrification includes grid solutions, power conversion, electrification software, and solar and storage solutions technologies required for the transmission, distribution, conversion, and storage of electricity from the point of generation to point of consumption.
Having examined the options trading patterns of GE Vernova, 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 GE Vernova
- Currently trading with a volume of 2,218,236, the GEV's price is down by -1.47%, now at $174.91.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 41 days.
Expert Opinions on GE Vernova
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $179.2.
- In a cautious move, an analyst from Morgan Stanley downgraded its rating to Equal-Weight, setting a price target of $167.
- An analyst from Argus Research downgraded its action to Buy with a price target of $190.
- An analyst from Citigroup downgraded its action to Neutral with a price target of $183.
- An analyst from JP Morgan persists with their Overweight rating on GE Vernova, maintaining a target price of $176.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for GE Vernova, 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 GE Vernova with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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