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High-rolling investors have positioned themselves bearish on General Motors (NYSE:GM), and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GM often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 17 options trades for General Motors. This is not a typical pattern.
The sentiment among these major traders is split, with 41% bullish and 58% bearish. Among all the options we identified, there was one put, amounting to $97,200, and 16 calls, totaling $1,070,247.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $28.0 to $47.0 for General Motors over the last 3 months.
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for General Motors's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across General Motors's significant trades, within a strike price range of $28.0 to $47.0, over the past month.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|
GM | CALL | TRADE | BEARISH | 09/20/24 | $28.00 | $163.0K | 1.4K | 100 |
GM | CALL | SWEEP | BULLISH | 10/18/24 | $42.00 | $142.6K | 1.5K | 300 |
GM | CALL | SWEEP | BULLISH | 01/17/25 | $33.00 | $126.0K | 14.5K | 100 |
GM | PUT | SWEEP | BEARISH | 06/20/25 | $40.00 | $97.2K | 2.9K | 300 |
GM | CALL | SWEEP | NEUTRAL | 06/21/24 | $42.00 | $91.7K | 20.5K | 491 |
General Motors Co. emerged from the bankruptcy of General Motors Corp. (old GM) in July 2009. GM has eight brands and operates under four segments: GM North America, GM International, Cruise, and GM Financial. The United States now has four brands instead of eight under old GM. The company regained its U.S. market share leader crown in 2022, after losing it to Toyota due to the chip shortage in 2021. 2023's share was 16.5%. GM's Cruise autonomous vehicle arm has previously done driverless geofenced AV robotaxi services in San Francisco and other cities but stopped in late 2023 after an accident. It should restart in at least one city in 2024. GM owns over 80% of Cruise. GM Financial became the company's captive finance arm in October 2010 via the purchase of AmeriCredit.
After a thorough review of the options trading surrounding General Motors, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
2 market experts have recently issued ratings for this stock, with a consensus target price of $46.0.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for General Motors with Benzinga Pro for real-time alerts.
Posted In: GM