Spotlight on General Electric: Analyzing the Surge in Options Activity

General Electric Company -0.60% Pre

General Electric Company

GE

153.70

153.70

-0.60%

0.00% Pre

Financial giants have made a conspicuous bearish move on General Electric. Our analysis of options history for General Electric (NYSE:GE) revealed 12 unusual trades.

Delving into the details, we found 41% of traders were bullish, while 58% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $200,211, and 8 were calls, valued at $604,447.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $135.0 for General Electric during the past quarter.

Volume & Open Interest Trends

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 Electric'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 Electric's whale trades within a strike price range from $60.0 to $135.0 in the last 30 days.

General Electric 30-Day Option Volume & Interest Snapshot

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GE CALL SWEEP BEARISH 09/20/24 $90.00 $190.5K 10 5
GE CALL TRADE BULLISH 01/19/24 $90.00 $171.9K 1.9K 45
GE CALL SWEEP BULLISH 01/17/25 $130.00 $58.6K 967 39
GE PUT TRADE BEARISH 03/15/24 $135.00 $50.6K 73 175
GE PUT SWEEP BEARISH 03/15/24 $135.00 $50.4K 73 59

About General Electric

GE was formed through the combination of two companies in 1892, including one with historical ties to American inventor Thomas Edison. Today, GE is a global leader in air travel and in the energy transition. The company is known for its differentiated technology and its massive industrial installed base of equipment sprawled throughout the world. That installed base most notably includes aerospace engines, gas and steam turbines, and onshore and offshore wind turbines. GE earns most of its profits on the service revenue of that equipment, which is generally higher-margin. The company is led by Danaher alumnus Larry Culp, who is leading a multiyear turnaround of the conglomerate based on lean principles.

After a thorough review of the options trading surrounding General Electric, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

General Electric's Current Market Status

  • Currently trading with a volume of 1,949,393, the GE's price is down by -0.16%, now at $128.0.
  • RSI readings suggest the stock is currently may be approaching overbought.
  • Anticipated earnings release is in 26 days.

Expert Opinions on General Electric

4 market experts have recently issued ratings for this stock, with a consensus target price of $144.5.

  • An analyst from Citigroup persists with their Buy rating on General Electric, maintaining a target price of $148.
  • In a positive move, an analyst from Wells Fargo has upgraded their rating to Overweight and adjusted the price target to $144.
  • An analyst from JP Morgan persists with their Neutral rating on General Electric, maintaining a target price of $136.
  • Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on General Electric with a target price of $150.

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 want to stay updated on the latest options trades for General Electric, Benzinga Pro gives you real-time options trades alerts.

Every question you ask will be answered
Scan the QR code to contact us
whatsapp
Also you can contact us via