General Motors Unusual Options Activity For August 06

Financial giants have made a conspicuous bullish move on General Motors. Our analysis of options history for General Motors GM revealed 8 unusual trades.

Delving into the details, we found 37% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $154,945, and 4 were calls, valued at $376,913.

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 $40.0 and $47.0 for General Motors, spanning the last three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of General Motors stands at 2823.25, with a total volume reaching 1,245.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in General Motors, situated within the strike price corridor from $40.0 to $47.0, throughout the last 30 days.

General Motors 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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 us 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 restarted service in 2024 but not in California. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.

Following our analysis of the options activities associated with General Motors, we pivot to a closer look at the company's own performance.

Present Market Standing of General Motors

• With a volume of 1,544,931, the price of GM is up 1.53% at $40.56.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 77 days.

What Analysts Are Saying About General Motors

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $49.6.

• Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for General Motors, targeting a price of $61.
• Consistent in their evaluation, an analyst from UBS keeps a Buy rating on General Motors with a target price of $64.
• An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $55.
• An analyst from Nomura downgraded its action to Reduce with a price target of $34.
• Consistent in their evaluation, an analyst from Wells Fargo keeps a Underweight rating on General Motors with a target price of $34.

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 General Motors options trades with real-time alerts from Benzinga Pro.