Deep-pocketed investors have adopted a bullish approach towards General Motors GM, 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 GM 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 General Motors. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 37% bearish. Among these notable options, 3 are puts, totaling $966,038, and 5 are calls, amounting to $433,225.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $33.0 to $55.0 for General Motors during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of General Motors stands at 4354.86, with a total volume reaching 8,295.00. 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 $33.0 to $55.0, throughout the last 30 days.
General Motors 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GM | PUT | TRADE | NEUTRAL | 01/16/26 | $1.75 | $1.24 | $1.45 | $37.00 | $870.0K | 10.8K | 6.0K |
| GM | CALL | SWEEP | BEARISH | 01/17/25 | $21.4 | $21.0 | $21.0 | $33.00 | $126.0K | 11.8K | 100 |
| GM | CALL | SWEEP | BULLISH | 03/21/25 | $6.75 | $6.45 | $6.75 | $50.00 | $90.4K | 1.6K | 150 |
| GM | CALL | SWEEP | BULLISH | 12/20/24 | $1.75 | $1.74 | $1.75 | $55.00 | $84.5K | 3.8K | 662 |
| GM | CALL | TRADE | BULLISH | 01/17/25 | $21.0 | $20.6 | $21.0 | $33.00 | $84.0K | 11.8K | 0 |
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.
After a thorough review of the options trading surrounding General Motors, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
General Motors's Current Market Status
- Trading volume stands at 7,925,621, with GM's price up by 0.33%, positioned at $53.88.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 83 days.
What Analysts Are Saying About General Motors
5 market experts have recently issued ratings for this stock, with a consensus target price of $64.8.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from RBC Capital persists with their Outperform rating on General Motors, maintaining a target price of $65. * Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on General Motors with a target price of $70. * An analyst from Wedbush downgraded its action to Outperform with a price target of $55. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for General Motors, targeting a price of $70. * An analyst from Barclays persists with their Overweight rating on General Motors, maintaining a target price of $64.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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