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Benzinga Insights

General Motors Whale Trades For February 16

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

Looking at options history for General Motors (NYSE:GM) we detected 13 strange trades.

If we consider the specifics of each trade, it is accurate to state that 69% of the investors opened trades with bullish expectations and 30% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $314,527 and 6, calls, for a total amount of $297,910.

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 $45.0 to $55.0 for General Motors over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $45.0 to $55.0 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 SWEEP BULLISH 03/18/22 $55.00 $97.6K 28.4K 1.5K
GM PUT SWEEP BEARISH 09/16/22 $52.50 $79.1K 2.6K 200
GM CALL SWEEP BEARISH 01/20/23 $52.50 $77.4K 8.9K 123
GM PUT SWEEP BEARISH 01/19/24 $50.00 $52.5K 12.1K 50
GM PUT SWEEP BULLISH 06/17/22 $50.00 $46.3K 28.3K 100

Where Is General Motors Standing Right Now?

  • With a volume of 2,008,981, the price of GM is up 0.67% at $50.01.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 77 days.

What The Experts Say On General Motors:

  • Citigroup has decided to maintain their Buy rating on General Motors, which currently sits at a price target of $100.
  • RBC Capital has decided to maintain their Outperform rating on General Motors, which currently sits at a price target of $85.
  • Morgan Stanley downgraded its action to Equal-Weight with a price target of $55
  • Nomura Instinet downgraded its action to Neutral with a price target of $56

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

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