Whales with a lot of money to spend have taken a noticeably bullish stance on General Motors.
Looking at options history for General Motors GM we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 25% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $107,756 and 6, calls, for a total amount of $522,964.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $28.0 to $60.0 for General Motors during the past quarter.
Analyzing Volume & Open Interest
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 $28.0 to $60.0 in the last 30 days.
General Motors Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GM | CALL | TRADE | BEARISH | 01/17/25 | $18.2 | $16.9 | $17.35 | $28.00 | $173.5K | 1.2K | 0 |
| GM | CALL | TRADE | BULLISH | 09/20/24 | $12.4 | $11.9 | $12.4 | $33.00 | $124.0K | 4.2K | 0 |
| GM | CALL | TRADE | BULLISH | 06/21/24 | $11.8 | $11.75 | $11.8 | $33.00 | $118.0K | 4.1K | 0 |
| GM | PUT | TRADE | BEARISH | 12/18/26 | $16.65 | $16.05 | $16.5 | $60.00 | $82.5K | 0 | 50 |
| GM | CALL | SWEEP | BULLISH | 01/17/25 | $2.9 | $2.88 | $2.9 | $50.00 | $39.1K | 26.1K | 142 |
About General Motors
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.
Having examined the options trading patterns of General Motors, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of General Motors
- With a trading volume of 3,323,966, the price of GM is up by 0.04%, reaching $44.55.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 83 days from now.
Expert Opinions on General Motors
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $62.6.
- An analyst from Wedbush has decided to maintain their Outperform rating on General Motors, which currently sits at a price target of $55.
- An analyst from Citigroup persists with their Buy rating on General Motors, maintaining a target price of $96.
- An analyst from RBC Capital persists with their Outperform rating on General Motors, maintaining a target price of $58.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $46.
- An analyst from UBS persists with their Buy rating on General Motors, maintaining a target price of $58.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest General Motors options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
