Financial giants have made a conspicuous bearish move on General Motors. Our analysis of options history for General Motors GM revealed 17 unusual trades.
Delving into the details, we found 47% of traders were bullish, while 52% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $533,620, and 11 were calls, valued at $1,478,311.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $48.0 to $57.5 for General Motors over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in General Motors's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to General Motors's substantial trades, within a strike price spectrum from $48.0 to $57.5 over the preceding 30 days.
General Motors 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GM | CALL | SWEEP | BULLISH | 11/15/24 | $1.84 | $1.78 | $1.84 | $52.50 | $546.4K | 3.1K | 3.0K |
| GM | CALL | SWEEP | BULLISH | 11/01/24 | $2.86 | $2.86 | $2.86 | $50.00 | $286.0K | 7.4K | 1.0K |
| GM | PUT | SWEEP | BEARISH | 03/21/25 | $1.98 | $1.92 | $1.92 | $48.00 | $192.0K | 378 | 1.0K |
| GM | CALL | SWEEP | BULLISH | 03/21/25 | $7.35 | $7.25 | $7.35 | $48.00 | $178.6K | 513 | 244 |
| GM | PUT | SWEEP | BEARISH | 01/17/25 | $3.85 | $3.8 | $3.85 | $55.00 | $150.5K | 1.4K | 506 |
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.
Following our analysis of the options activities associated with General Motors, we pivot to a closer look at the company's own performance.
General Motors's Current Market Status
- With a trading volume of 3,303,187, the price of GM is down by -0.44%, reaching $52.49.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 95 days from now.
What Analysts Are Saying About General Motors
5 market experts have recently issued ratings for this stock, with a consensus target price of $58.4.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from JP Morgan has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $70. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Underweight rating on General Motors with a target price of $38. * Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for General Motors, targeting a price of $60. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on General Motors with a target price of $70. * In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $54.
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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