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 (NYSE:GM) we detected 23 strange trades.
If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $1,103,780 and 14, calls, for a total amount of $1,161,615.
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 $30.0 to $60.0 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 $30.0 to $60.0 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 | PUT | TRADE | BULLISH | 01/19/24 | $40.00 | $762.5K | 13.0K | 1.2K |
| GM | CALL | SWEEP | BEARISH | 04/14/22 | $40.00 | $350.0K | 3.1K | 2.0K |
| GM | CALL | SWEEP | BEARISH | 04/14/22 | $40.00 | $175.3K | 3.1K | 503 |
| GM | PUT | SWEEP | BEARISH | 09/16/22 | $52.50 | $93.5K | 3.1K | 98 |
| GM | CALL | TRADE | BULLISH | 01/19/24 | $60.00 | $84.0K | 11.2K | 200 |
Where Is General Motors Standing Right Now?
- With a volume of 10,161,973, the price of GM is down -2.25% at $42.76.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 33 days.
What The Experts Say On General Motors:
- Wolfe Research has decided to maintain their Outperform rating on General Motors, which currently sits at a price target of $70.
- Morgan Stanley has decided to maintain their Equal-Weight rating on General Motors, which currently sits at a price target of $50.
- Benchmark has decided to maintain their Buy rating on General Motors, which currently sits at a price target of $75.
- Wells Fargo has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $72.
- Jefferies has decided to maintain their Hold rating on General Motors, which currently sits at a price target of $44.
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.
