A whale with a lot of money to spend has taken a noticeably bullish stance on General Electric.
Looking at options history for General Electric GE we detected 22 strange trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 16 are puts, for a total amount of $774,043 and 6, calls, for a total amount of $709,799.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $90.0 and $115.0 for General Electric, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of General Electric stands at 3379.67, with a total volume reaching 11,983.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in General Electric, situated within the strike price corridor from $90.0 to $115.0, throughout the last 30 days.
General Electric Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GE | CALL | TRADE | BEARISH | 01/19/24 | $115.00 | $306.0K | 4.0K | 1.0K |
| GE | CALL | TRADE | BULLISH | 01/19/24 | $95.00 | $290.1K | 5.3K | 189 |
| GE | PUT | SWEEP | BEARISH | 01/19/24 | $115.00 | $53.1K | 1.4K | 237 |
| GE | PUT | SWEEP | BEARISH | 01/19/24 | $115.00 | $53.0K | 1.4K | 160 |
| GE | PUT | SWEEP | BEARISH | 01/19/24 | $115.00 | $52.7K | 1.4K | 83 |
General Electric's Current Market Status
- Trading volume stands at 3,203,594, with GE's price up 0.17%, positioned at $109.11. RSI indicators show the stock to be may be approaching overbought. Earnings announcement expected in 78 days.
What The Experts Say On General Electric:
- Barclays has decided to maintain their Overweight rating on General Electric, which currently sits at a price target of $133.
- Consistent in their evaluation, RBC Capital keeps a Outperform rating on General Electric with a target price of $131.
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 General Electric with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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