Investors with a lot of money to spend have taken a bearish stance on GE Vernova GEV.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with GEV, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for GE Vernova.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 62%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $811,781, and there was 1 call, for a total amount of $78,000.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $170.0 to $260.0 for GE Vernova over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of GE Vernova stands at 395.33, with a total volume reaching 1,113.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in GE Vernova, situated within the strike price corridor from $170.0 to $260.0, throughout the last 30 days.
GE Vernova 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GEV | PUT | SWEEP | BEARISH | 07/19/24 | $5.7 | $5.1 | $5.6 | $170.00 | $222.3K | 356 | 1.1K |
| GEV | PUT | SWEEP | BEARISH | 07/19/24 | $4.9 | $4.4 | $4.9 | $170.00 | $179.8K | 356 | 0 |
| GEV | PUT | SWEEP | BEARISH | 07/19/24 | $4.8 | $4.7 | $4.7 | $170.00 | $151.8K | 356 | 0 |
| GEV | PUT | SWEEP | BEARISH | 07/19/24 | $4.9 | $4.7 | $4.89 | $170.00 | $110.7K | 356 | 0 |
| GEV | CALL | TRADE | BULLISH | 07/19/24 | $10.6 | $9.8 | $10.4 | $170.00 | $78.0K | 815 | 3 |
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.
In light of the recent options history for GE Vernova, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is GE Vernova Standing Right Now?
- Currently trading with a volume of 741,323, the GEV's price is down by -1.04%, now at $178.12.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 27 days.
Expert Opinions on GE Vernova
In the last month, 5 experts released ratings on this stock with an average target price of $188.1.
- An analyst from RBC Capital has decided to maintain their Outperform rating on GE Vernova, which currently sits at a price target of $180.
- Reflecting concerns, an analyst from Daiwa Capital lowers its rating to Outperform with a new price target of $201.
- An analyst from JP Morgan has decided to maintain their Overweight rating on GE Vernova, which currently sits at a price target of $186.
- Reflecting concerns, an analyst from Argus Research lowers its rating to Buy with a new price target of $190.
- Reflecting concerns, an analyst from Citigroup lowers its rating to Neutral with a new price target of $183.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest GE Vernova options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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