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General Motors Whale Trades Spotted

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 18 strange trades.

Benzinga · 12/29/2021 10:31

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 18 strange trades.

If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $99,627 and 16, calls, for a total amount of $607,015.

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 $25.0 to $60.0 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 $25.0 to $60.0 in 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 CALL SWEEP NEUTRAL 01/20/23 $50.00 $63.7K 14.1K 52
GM CALL TRADE BEARISH 06/17/22 $57.50 $60.5K 2.6K 1
GM CALL SWEEP BEARISH 06/17/22 $57.50 $60.0K 2.6K 301
GM PUT SWEEP BULLISH 01/20/23 $57.50 $53.3K 7.6K 58
GM PUT TRADE BEARISH 01/20/23 $57.50 $46.2K 7.6K 58

Where Is General Motors Standing Right Now?

  • With a volume of 1,702,581, the price of GM is down -0.31% at $56.94.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 42 days.

What The Experts Say On General Motors:

  • Daiwa Capital downgraded its action to Neutral with a price target of $65
  • Wells Fargo has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $74.

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.