Whales with a lot of money to spend have taken a noticeably bearish stance on General Motors.
Looking at options history for General Motors GM we detected 15 trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 53% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $805,950 and 10, calls, for a total amount of $665,347.
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 $30.0 to $55.0 for General Motors over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of General Motors stands at 3755.25, with a total volume reaching 20,290.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in General Motors, situated within the strike price corridor from $30.0 to $55.0, throughout the last 30 days.
General Motors Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GM | PUT | TRADE | BEARISH | 09/20/24 | $0.61 | $0.58 | $0.6 | $47.50 | $300.0K | 248 | 5.0K |
| GM | PUT | TRADE | BEARISH | 09/20/24 | $0.97 | $0.94 | $0.96 | $48.50 | $244.8K | 52 | 2.5K |
| GM | CALL | TRADE | NEUTRAL | 06/20/25 | $18.0 | $13.0 | $15.45 | $35.00 | $154.5K | 4.7K | 0 |
| GM | PUT | TRADE | BEARISH | 09/20/24 | $0.61 | $0.58 | $0.6 | $47.50 | $150.0K | 248 | 7.5K |
| GM | CALL | SWEEP | BULLISH | 03/21/25 | $4.9 | $4.8 | $4.9 | $49.00 | $113.1K | 293 | 290 |
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 us market share leader crown in 2022, after losing it to Toyota due to the chip shortage in 2021. 2023's share was 16.5%. 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. It restarted service in 2024 but not in California. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.
Where Is General Motors Standing Right Now?
- With a volume of 5,460,040, the price of GM is down -0.39% at $48.56.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 56 days.
What The Experts Say On General Motors
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $44.0.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for General Motors, targeting a price of $54.
- An analyst from Nomura has revised its rating downward to Reduce, adjusting the price target to $34.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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