Deep-pocketed investors have adopted a bearish approach towards General Motors GM, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for General Motors. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 63% bearish. Among these notable options, 9 are puts, totaling $1,842,757, and 2 are calls, amounting to $90,030.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $33.0 and $36.0 for General Motors, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for General Motors'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 Motors's whale trades within a strike price range from $33.0 to $36.0 in the last 30 days.
General Motors Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GM | PUT | SWEEP | BEARISH | 06/21/24 | $36.00 | $403.0K | 10.7K | 1.3K |
| GM | PUT | SWEEP | BEARISH | 06/21/24 | $36.00 | $394.0K | 10.7K | 2.5K |
| GM | PUT | SWEEP | BEARISH | 06/21/24 | $35.00 | $331.4K | 13.6K | 2.5K |
| GM | PUT | TRADE | BEARISH | 06/21/24 | $33.00 | $218.4K | 9.8K | 2.6K |
| GM | PUT | TRADE | BEARISH | 06/21/24 | $33.00 | $215.8K | 9.8K | 1.3K |
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.
Following our analysis of the options activities associated with General Motors, we pivot to a closer look at the company's own performance.
Present Market Standing of General Motors
- With a volume of 3,716,559, the price of GM is up 1.33% at $35.16.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 5 days.
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 Motors options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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