General Electric Unusual Options Activity For October 12
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been detected for General Electric (NYSE:GE), with a bearish stance being taken by a majority of investors. Of the 12 strange trades detected, 41% were bullish and 58% were bearish. The total amount for puts was $357,785 and for calls was $322,350. Whales have been targeting a price range from $60.0 to $120.0 for GE over the last 3 months. Deutsche Bank has downgraded its action to Buy with a price target of $141.
October 12, 2023 | 5:47 pm
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Bearish options activity has been detected for General Electric, with a majority of investors taking a bearish stance. Whales have been targeting a price range from $60.0 to $120.0 for GE over the last 3 months. Deutsche Bank has downgraded its action to Buy with a price target of $141.
The bearish stance taken by a majority of investors in the unusual options activity indicates a potential downward pressure on GE's stock price in the short term. The downgrade by Deutsche Bank could also negatively impact the stock price, despite the Buy rating and the price target of $141, which is higher than the current price.
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