This Is What Whales Are Betting On General Motors

Someone with a lot of money to spend has taken a bearish stance on General Motors GM.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 39 uncommon options trades for General Motors.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 58%, bearish.

Out of all of the special options we uncovered, 20 are puts, for a total amount of $2,664,322, and 19 are calls, for a total amount of $6,646,371.

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What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $27.0 to $47.0 for General Motors over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for General Motors options trades today is 6008.78 with a total volume of 102,233.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for General Motors's big money trades within a strike price range of $27.0 to $47.0 over the last 30 days.

General Motors Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is General Motors Standing Right Now?

• With a volume of 13,144,151, the price of GM is down -1.39% at $33.69.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 74 days.

What The Experts Say On General Motors:

• Tigress Financial downgraded its action to Strong Buy with a price target of $86
• RBC Capital downgraded its action to Outperform with a price target of $48
• Citigroup has decided to maintain their Buy rating on General Motors, which currently sits at a price target of $95.
• Mizuho has decided to maintain their Neutral rating on General Motors, which currently sits at a price target of $40.
• Wedbush downgraded its action to Outperform with a price target of $46

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.