Benzinga | Jan 6, 2022 10:32AM EST

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 12 strange trades.

If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $631,171 and 5, calls, for a total amount of $200,504.

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 $42.0 to $65.0 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 9491.78 with a total volume of 8,391.00.

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 $42.0 to $65.0 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 SWEEP BEARISH 01/14/ $65.00 $306.6K 2.5K 941 22GM PUT TRADE BEARISH 06/17/ $65.00 $75.0K 910 200 22GM PUT SWEEP BULLISH 06/17/ $65.00 $72.7K 910 200 22GM CALL TRADE BEARISH 01/19/ $65.00 $66.5K 1.4K 60 24GM PUT SWEEP BEARISH 01/14/ $65.00 $64.4K 2.5K 1.1K 22

Where Is General Motors Standing Right Now?

* With a volume of 5,821,403, the price of GM is down -0.29% at $62.56.

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

* Next earnings are expected to be released in 34 days.

What The Experts Say On General Motors:

* Wells Fargo has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $74.

* Daiwa Capital downgraded its action to Neutral with a price target of $65

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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