General Motors Unusual Options Activity For August 24
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been detected for General Motors (NYSE:GM), with a bearish stance being taken by a majority of investors. Of the 11 strange trades detected, 54% were bearish and 45% were bullish. The total amount for the 8 puts was $687,197 and for the 3 calls was $106,289. Whales have been targeting a price range from $25.0 to $55.0 for GM over the last 3 months. The current price of GM is down -1.91% at $32.92. Several financial institutions have given their ratings and price targets for GM.
August 24, 2023 | 6:17 pm
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Unusual options activity has been detected for General Motors, with a bearish stance being taken by a majority of investors. The current price of GM is down -1.91% at $32.92. Several financial institutions have given their ratings and price targets for GM.
The bearish stance taken by a majority of investors in the unusual options activity indicates a negative sentiment towards GM. This, coupled with the current price drop, could potentially lead to a short-term decrease in GM's stock price. However, the various ratings and price targets given by financial institutions could influence the stock's movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100