Investors with a lot of money to spend have taken a bearish stance on General Electric GE.
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 GE, 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 37 uncommon options trades for General Electric.
This isn't normal.
The overall sentiment of these big-money traders is split between 21% bullish and 78%, bearish.
Out of all of the special options we uncovered, 14 are puts, for a total amount of $900,755, and 23 are calls, for a total amount of $4,375,159.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $140.0 to $170.0 for General Electric over the recent three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for General Electric'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 Electric's significant trades, within a strike price range of $140.0 to $170.0, over the past month.
General Electric 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GE | CALL | SWEEP | BEARISH | 01/17/25 | $170.00 | $2.9M | 267 | 2.8K |
| GE | PUT | TRADE | BULLISH | 04/19/24 | $155.00 | $464.0K | 1.0K | 885 |
| GE | CALL | SWEEP | BEARISH | 01/17/25 | $170.00 | $372.1K | 267 | 315 |
| GE | CALL | TRADE | BEARISH | 04/19/24 | $160.00 | $224.1K | 1.8K | 2.1K |
| GE | CALL | SWEEP | BEARISH | 03/15/24 | $140.00 | $81.9K | 9.1K | 1.0K |
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 GE through a breakup of its businesses.
Where Is General Electric Standing Right Now?
- With a volume of 2,455,085, the price of GE is up 0.05% at $154.07.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 55 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for General Electric with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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