Whales with a lot of money to spend have taken a noticeably bearish stance on General Electric.
Looking at options history for General Electric GE we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $86,690 and 6, calls, for a total amount of $194,015.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $80.0 to $135.0 for General Electric during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for General Electric options trades today is 685.14 with a total volume of 2,559.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for General Electric's big money trades within a strike price range of $80.0 to $135.0 over the last 30 days.
General Electric 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GE | PUT | SWEEP | BULLISH | 02/09/24 | $128.00 | $60.6K | 2.1K | 2.1K |
| GE | CALL | SWEEP | BULLISH | 01/17/25 | $80.00 | $40.7K | 638 | 7 |
| GE | CALL | TRADE | BEARISH | 04/19/24 | $135.00 | $34.1K | 1.3K | 165 |
| GE | CALL | TRADE | BEARISH | 04/19/24 | $135.00 | $33.8K | 1.3K | 66 |
| GE | CALL | TRADE | NEUTRAL | 01/16/26 | $100.00 | $31.9K | 137 | 7 |
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.
After a thorough review of the options trading surrounding General Electric, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is General Electric Standing Right Now?
- Currently trading with a volume of 1,547,203, the GE's price is down by -0.28%, now at $133.55.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 83 days.
What Analysts Are Saying About General Electric
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $149.66666666666666.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on General Electric with a target price of $153.
- An analyst from RBC Capital persists with their Outperform rating on General Electric, maintaining a target price of $148.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on General Electric with a target price of $148.
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 Electric, 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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