A whale with a lot of money to spend has taken a noticeably bearish stance on General Electric.
Looking at options history for General Electric GE we detected 14 strange trades.
If we consider the specifics of each trade, it is accurate to state that 21% of the investors opened trades with bullish expectations and 78% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $250,188 and 9, calls, for a total amount of $811,892.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $109.0 to $115.0 for General Electric over the last 3 months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in General Electric's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to General Electric's substantial trades, within a strike price spectrum from $109.0 to $115.0 over the preceding 30 days.
General Electric Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GE | CALL | SWEEP | NEUTRAL | 11/10/23 | $109.00 | $295.2K | 2.1K | 921 |
| GE | CALL | SWEEP | NEUTRAL | 11/10/23 | $109.00 | $228.0K | 2.1K | 1.6K |
| GE | PUT | SWEEP | BEARISH | 01/19/24 | $115.00 | $58.8K | 1.3K | 201 |
| GE | CALL | SWEEP | NEUTRAL | 11/10/23 | $109.00 | $57.9K | 2.1K | 1.3K |
| GE | CALL | SWEEP | BEARISH | 03/15/24 | $115.00 | $51.6K | 1.1K | 94 |
Current Position of General Electric
- With a volume of 1,875,417, the price of GE is up 0.15% at $111.97.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 76 days.
What The Experts Say On General Electric:
- RBC Capital has decided to maintain their Outperform rating on General Electric, which currently sits at a price target of $131.
- Barclays persists with their Overweight rating on General Electric, maintaining a target price of $133.
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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