Investors with a lot of money to spend have taken a bearish stance on General Motors GM.
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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with GM, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for General Motors.
This isn't normal.
The overall sentiment of these big-money traders is split between 23% bullish and 76%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $496,950, and 5 are calls, for a total amount of $262,075.
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 $25.0 and $45.0 for General Motors, spanning the last three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for General Motors's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across General Motors's significant trades, within a strike price range of $25.0 to $45.0, over the past month.
General Motors Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GM | PUT | SWEEP | BEARISH | 01/17/25 | $40.00 | $165.0K | 10.3K | 289 |
| GM | PUT | SWEEP | BEARISH | 01/17/25 | $45.00 | $95.0K | 428 | 107 |
| GM | CALL | SWEEP | BULLISH | 06/21/24 | $36.00 | $89.7K | 1.5K | 1 |
| GM | CALL | TRADE | BULLISH | 01/17/25 | $25.00 | $66.7K | 4.7K | 51 |
| GM | CALL | TRADE | BEARISH | 01/19/24 | $32.00 | $50.8K | 33.2K | 115 |
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 U.S. market share leader crown in 2022, after losing it to Toyota due to the chip shortage in 2021, with share up 170 basis points to 16.4%, a full percentage point ahead of Toyota. 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. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.
General Motors's Current Market Status
- With a trading volume of 9,705,494, the price of GM is down by -0.53%, reaching $35.8.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 22 days from now.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for General Motors, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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