Financial giants have made a conspicuous bullish move on General Electric. Our analysis of options history for General Electric GE revealed 17 unusual trades.
Delving into the details, we found 52% of traders were bullish, while 47% showed bearish tendencies. Out of all the trades we spotted, 14 were puts, with a value of $693,758, and 3 were calls, valued at $94,130.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $140.0 for General Electric, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for General Electric's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of General Electric's whale activity within a strike price range from $100.0 to $140.0 in 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 | PUT | TRADE | BULLISH | 03/15/24 | $130.00 | $61.9K | 948 | 553 |
| GE | PUT | TRADE | BULLISH | 03/15/24 | $130.00 | $61.5K | 948 | 784 |
| GE | PUT | SWEEP | BEARISH | 03/15/24 | $130.00 | $59.0K | 948 | 1 |
| GE | PUT | SWEEP | BULLISH | 02/02/24 | $130.00 | $53.5K | 80 | 0 |
| GE | PUT | TRADE | BEARISH | 03/15/24 | $130.00 | $50.6K | 948 | 191 |
About General Electric
GE was formed through the combination of two companies in 1892, including one with historical ties to American inventor Thomas Edison. Today, GE is a global leader in air travel and in the energy transition. The company is known for its differentiated technology and its massive industrial installed base of equipment sprawled throughout the world. That installed base most notably includes aerospace engines, gas and steam turbines, and onshore and offshore wind turbines. GE earns most of its profits on the service revenue of that equipment, which is generally higher-margin. The company is led by Danaher alumnus Larry Culp, who is leading a multiyear turnaround of the conglomerate based on lean principles.
Following our analysis of the options activities associated with General Electric, we pivot to a closer look at the company's own performance.
Present Market Standing of General Electric
- With a volume of 776,086, the price of GE is down -0.71% at $125.05.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 20 days.
What The Experts Say On General Electric
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $144.5.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for General Electric, targeting a price of $148.
- An analyst from JP Morgan persists with their Neutral rating on General Electric, maintaining a target price of $136.
- In a positive move, an analyst from Wells Fargo has upgraded their rating to Overweight and adjusted the price target to $144.
- An analyst from RBC Capital has decided to maintain their Outperform rating on General Electric, which currently sits at a price target of $150.
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 Electric options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
