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Looking At General Motors's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on General Motors GM.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don’t know. But when something this big happens with GM, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga‘s options scanner spotted 13 uncommon options trades for General Motors.

This isn’t normal.

The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $754,626, and 2 are calls, for a total amount of $319,140.

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 $33.0 to $41.0 for General Motors over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for General Motors’s options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of General Motors’s whale trades within a strike price range from $33.0 to $41.0 in the last 30 days.

General Motors Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GM CALL TRADE BEARISH 09/23/22 $39.00 $264.3K 0 2.8K
GM PUT TRADE BULLISH 06/16/23 $33.00 $211.6K 1.0K 588
GM PUT TRADE BULLISH 12/16/22 $33.00 $143.2K 1.1K 734
GM PUT SWEEP BEARISH 01/19/24 $38.00 $69.6K 8.7K 459
GM CALL SWEEP BEARISH 09/16/22 $37.00 $54.8K 5.0K 599
Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GM CALL TRADE BEARISH 09/23/22 $39.00 $264.3K 0 2.8K
GM PUT TRADE BULLISH 06/16/23 $33.00 $211.6K 1.0K 588
GM PUT TRADE BULLISH 12/16/22 $33.00 $143.2K 1.1K 734
GM PUT SWEEP BEARISH 01/19/24 $38.00 $69.6K 8.7K 459
GM CALL SWEEP BEARISH 09/16/22 $37.00 $54.8K 5.0K 599

Where Is General Motors Standing Right Now?

  • With a volume of 6,912,484, the price of GM is down -1.04% at $35.85.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 82 days.

What The Experts Say On General Motors:

  • Deutsche Bank downgraded its action to Hold with a price target of $36
  • Morgan Stanley has decided to maintain their Equal-Weight rating on General Motors, which currently sits at a price target of $42.
  • Wells Fargo has decided to maintain their Underweight rating on General Motors, which currently sits at a price target of $29.
  • JP Morgan has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $61.

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.

This post was originally published on this site

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