General Electric Unusual Options Activity For July 06
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been observed for General Electric (NYSE:GE), with a bearish stance being taken by a majority of investors. Of the 13 strange trades detected, 53% were bearish and 46% were bullish. The total amount for puts was $553,351 and for calls was $448,387. Whales have been targeting a price range from $95.0 to $125.0 for GE over the last 3 months. Barclays has maintained their Overweight rating on GE, with a price target of $125.
July 06, 2023 | 5:33 pm
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Bearish options activity observed for General Electric, with majority of trades being puts. Whales targeting a price range of $95-$125. Barclays maintains Overweight rating on GE.
The bearish stance taken by majority of investors in the unusual options activity indicates a potential downward pressure on GE's stock price in the short term. The price target range of $95-$125 by whales also suggests a potential downside from the current price. Barclays' Overweight rating, however, provides a positive outlook for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100