High-rolling investors have positioned themselves bearish on Genuine Parts GPC, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GPC often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Genuine Parts. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $27,750, and 7 calls, totaling $438,927.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $115.0 to $125.0 for Genuine Parts over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Genuine Parts stands at 6112.25, with a total volume reaching 1,910.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Genuine Parts, situated within the strike price corridor from $115.0 to $125.0, throughout the last 30 days.
Genuine Parts Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GPC | CALL | SWEEP | BULLISH | 12/20/24 | $4.2 | $3.5 | $3.5 | $120.00 | $105.0K | 21.7K | 90 |
| GPC | CALL | SWEEP | BEARISH | 12/20/24 | $4.5 | $4.3 | $4.3 | $120.00 | $92.4K | 21.7K | 695 |
| GPC | CALL | SWEEP | BEARISH | 12/20/24 | $7.3 | $6.8 | $6.8 | $115.00 | $90.4K | 1.5K | 205 |
| GPC | CALL | SWEEP | BEARISH | 12/20/24 | $7.2 | $6.7 | $6.7 | $115.00 | $44.8K | 1.5K | 272 |
| GPC | CALL | TRADE | BEARISH | 12/20/24 | $7.8 | $7.5 | $7.5 | $115.00 | $37.5K | 1.5K | 322 |
About Genuine Parts
Genuine Parts sells aftermarket automotive parts (about 60% of sales) and industrial products (40% of sales) in the United States and internationally. The automotive segment primarily acts as a distributor to its network of 9,800 global retail locations of which about two thirds are independently owned and operated. we estimate Genuine serves around 6,000 retail locations in the US operating under the Napa Auto Parts brand, with about 80% of end market sales derived from professional customers. Its industrial segment, primarily operating under the Motion banner in the United States, serves as a leading distributor of bearings, power transmission, and other industrial products to more than 200,000 maintenance, repair, and original equipment manufacturer clients.
After a thorough review of the options trading surrounding Genuine Parts, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Genuine Parts
- With a trading volume of 941,916, the price of GPC is up by 2.19%, reaching $119.15.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 99 days from now.
What Analysts Are Saying About Genuine Parts
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $133.8.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Genuine Parts, targeting a price of $160. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Genuine Parts, targeting a price of $125. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Genuine Parts, targeting a price of $135. * An analyst from Truist Securities persists with their Buy rating on Genuine Parts, maintaining a target price of $129. * Maintaining their stance, an analyst from Wedbush continues to hold a Neutral rating for Genuine Parts, targeting a price of $120.
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 Genuine Parts with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
