Benzinga | Nov 16, 2021 12:57PM EST

Looking At General Motors's Recent Whale Trades

Someone with a lot of money to spend has taken a bullish stance on General Motors (NYSE:GM).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with GM, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for General Motors.

This isn't normal.

The overall sentiment of these big-money traders is split between 50.0% bullish and 50.0%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $25,300, and 9, calls, for a total amount of $662,075..

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $85.0 for General Motors over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for General Motors's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of General Motors's whale trades within a strike price range from $35.0 to $85.0 in the last 30 days.

General Motors Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestGM CALL SWEEP BULLISH 01/21/ $65.00 $258.3K 59.1K 4.0K 22GM CALL SWEEP BULLISH 01/21/ $65.00 $127.2K 59.1K 4.1K 22GM CALL SWEEP BULLISH 11/19/ $55.00 $68.8K 19.5K 520 21GM CALL SWEEP BEARISH 02/18/ $60.00 $52.8K 3.0K 403 22GM CALL SWEEP BULLISH 01/20/ $35.00 $34.2K 980 15 23

Where Is General Motors Standing Right Now?

* With a volume of 8,490,335, the price of GM is down -0.53% at $62.63.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 85 days.

What The Experts Say On General Motors:

* Barclays has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $68.0.

* Morgan Stanley has decided to maintain their Overweight rating on General Motors, which currently sits at a price target of $75.0.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.