General Motors Unusual Options Activity For May 23
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on General Motors (NYSE:GM) with 57% of detected unusual options trades being bearish. Whales have been targeting a price range of $29 to $40 for GM over the last 3 months. The stock is currently up 2.36% at $33.63.
May 23, 2023 | 3:04 pm
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A whale has taken a bearish stance on General Motors (NYSE:GM) with 57% of detected unusual options trades being bearish. The stock is currently up 2.36% at $33.63.
The bearish stance taken by a whale with a significant amount of money to spend indicates that they believe the stock price will go down in the short term. This can have a negative impact on the stock price as other investors may follow suit, leading to increased selling pressure. Additionally, the fact that 57% of the detected unusual options trades are bearish further supports this view.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100