Deep-pocketed investors have adopted a bearish approach towards GE Aero 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 10 extraordinary options activities for GE Aero. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 60% bearish. Among these notable options, 7 are puts, totaling $308,790, and 3 are calls, amounting to $179,328.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $160.0 to $175.0 for GE Aero over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of GE Aero stands at 1251.0, with a total volume reaching 1,171.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in GE Aero, situated within the strike price corridor from $160.0 to $175.0, throughout the last 30 days.
GE Aero Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GE | CALL | SWEEP | BEARISH | 08/16/24 | $3.85 | $3.75 | $3.8 | $175.00 | $88.1K | 1.3K | 167 |
| GE | CALL | SWEEP | BEARISH | 08/16/24 | $3.9 | $3.8 | $3.8 | $175.00 | $52.8K | 1.3K | 27 |
| GE | PUT | SWEEP | BEARISH | 01/17/25 | $13.2 | $13.2 | $13.2 | $160.00 | $52.7K | 430 | 0 |
| GE | PUT | SWEEP | BULLISH | 09/20/24 | $10.75 | $10.7 | $10.7 | $165.00 | $50.3K | 908 | 47 |
| GE | PUT | TRADE | BEARISH | 09/20/24 | $10.55 | $10.45 | $10.55 | $165.00 | $49.5K | 908 | 141 |
About GE Aero
GE Aerospace is the global leader in designing, manufacturing, and servicing large aircraft engines, along with partner Safran in their CFM joint venture. With its massive global installed base of nearly 70,000 commercial and military engines, GE Aerospace earns most of its profits on recurring service revenue of that equipment, which operates for decades. GE Aerospace is the remaining core business of the company formed in 1892 with historical ties to American inventor Thomas Edison; that company became a storied conglomerate with peak revenue of $130 billion in 2000. GE spun off its appliance, finance, healthcare, and wind and power businesses between 2016 and 2024.
Present Market Standing of GE Aero
- Trading volume stands at 2,317,494, with GE's price up by 1.8%, positioned at $163.43.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 28 days.
Professional Analyst Ratings for GE Aero
In the last month, 1 experts released ratings on this stock with an average target price of $209.0.
- An analyst from Deutsche Bank has decided to maintain their Buy rating on GE Aero, which currently sits at a price target of $209.
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 GE Aero, 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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