July 23, 2024

F1 Actual

Pride of the Travel

General Motors Whale Trades For May 16

A whale with a lot of money to spend has taken a noticeably bearish stance on General Motors.

Looking at options history for General Motors GM we detected 15 strange 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 60% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $1,368,139 and 8, calls, for a total amount of $405,359.

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 $31.0 to $50.0 for General Motors over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for General Motors options trades today is 9456.5 with a total volume of 13,190.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for General Motors’s big money trades within a strike price range of $31.0 to $50.0 over the last 30 days.

General Motors Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GM PUT TRADE BULLISH 01/19/24 $40.00 $875.0K 19.0K 1.0K
GM PUT SWEEP NEUTRAL 06/17/22 $31.00 $173.9K 1.4K 3.8K
GM PUT TRADE NEUTRAL 01/20/23 $50.00 $110.9K 32.0K 90
GM PUT TRADE BULLISH 12/16/22 $37.00 $87.4K 447 186
GM CALL SWEEP NEUTRAL 09/16/22 $38.00 $66.4K 12.0K 334

Where Is General Motors Standing Right Now?

  • With a volume of 10,267,710, the price of GM is down -2.22% at $37.36.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 79 days.

What The Experts Say On General Motors:

  • RBC Capital has decided to maintain their Outperform rating on General Motors, which currently sits at a price target of $58.
  • Berenberg downgraded its action to Buy with a price target of $55
  • Wells Fargo has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $74.
  • Deutsche Bank has decided to maintain their Buy rating on General Motors, which currently sits at a price target of $56.
  • Wells Fargo downgraded its action to Underweight with a price target of $33

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 d[company_name], Benzinga Progives you real-time options trades alerts.