Looking At General Electric's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on General Electric (NYSE:GE), with 60% of recent unusual options trades being bearish and 40% bullish. The trades include 6 puts totaling $213,353 and 9 calls totaling $477,071. The targeted price range for GE over the last 3 months is $90.0 to $130.0. The current price of GE is $117.29, up 1.56%, and RSI indicators suggest the stock may be approaching overbought.
September 18, 2023 | 4:16 pm
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Bearish stance taken on General Electric with majority of recent unusual options trades. Targeted price range is $90.0 to $130.0. Current price is $117.29, up 1.56%.
The bearish stance taken by a significant investor, along with the fact that 60% of recent unusual options trades are bearish, could potentially drive the stock price down in the short term. The targeted price range of $90.0 to $130.0 also suggests a potential downside from the current price of $117.29. Additionally, RSI indicators suggest the stock may be approaching overbought, which could lead to a price correction.
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