Benzinga | Dec 2, 2021 12:10PM EST

This Is What Whales Are Betting On General Motors

A whale with a lot of money to spend has taken a noticeably bullish stance on General Motors.

Looking at options history for General Motors (NYSE:GM) we detected 35 strange trades.

If we consider the specifics of each trade, it is accurate to state that 62.86% of the investors opened trades with bullish expectations and 37.14% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $297,630.00 and 32, calls, for a total amount of $1,721,524.00.

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 $36.0 to $85.0 for General Motors over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for General Motors options trades today is 10961.62 with a total volume of 28,079.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for General Motors's big money trades within a strike price range of $36.0 to $85.0 over the last 30 days.

General Motors Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestGM PUT TRADE BEARISH 01/21/ $50.00 $187.5K 44.0K 2.6K 22GM CALL TRADE BULLISH 01/21/ $60.00 $170.7K 28.5K 1.0K 22GM CALL SWEEP BULLISH 01/21/ $60.00 $129.0K 28.5K 1.3K 22GM CALL TRADE BULLISH 06/17/ $65.00 $127.5K 16.5K 251 22GM CALL TRADE NEUTRAL 01/20/ $40.00 $107.5K 5.5K 50 23

Where Is General Motors Standing Right Now?

* With a volume of 11,362,759.00, the price of GM is up 4.21% at $60.51.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 69 days.

What The Experts Say On General Motors:

* Morgan Stanley has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $75.0.

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.

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