Decoding GE Aero's Options Activity: What's the Big Picture?
Portfolio Pulse from Benzinga Insights
Large investors have taken a bearish stance on GE Aero (NYSE:GE) based on recent options activity. Benzinga's options scanner identified 12 significant trades, with a split sentiment of 25% bullish and 50% bearish. The trading activity suggests a price target range of $125.0 to $170.0 for GE Aero over the next three months. Currently, GE is trading at $158.73, down by 1.69%, with an RSI indicating it may be approaching oversold territory. Analysts have set an average target price of $188.0, with ratings from JP Morgan and UBS remaining positive.
June 04, 2024 | 3:16 pm
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Large investors have taken a bearish stance on GE Aero based on recent options activity. The trading activity suggests a price target range of $125.0 to $170.0 over the next three months. Currently, GE is trading at $158.73, down by 1.69%. Analysts have set an average target price of $188.0, with positive ratings from JP Morgan and UBS.
The bearish sentiment from large investors, as indicated by the options activity, suggests a potential short-term decline in GE's stock price. The current price drop and RSI readings support this outlook. However, positive analyst ratings provide a counterbalance, indicating potential long-term strength.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100