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Deep-pocketed investors have adopted a bullish approach towards GE Aero (NYSE:GE), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for GE Aero. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 40% bearish. Among these notable options, 5 are puts, totaling $212,240, and 5 are calls, amounting to $226,205.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $140.0 to $170.0 for GE Aero over the recent three months.
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 GE Aero'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 GE Aero's whale trades within a strike price range from $140.0 to $170.0 in the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GE | CALL | TRADE | BULLISH | 08/16/24 | $10.2 | $10.15 | $10.2 | $160.00 | $68.3K | 5.5K | 40 |
| GE | CALL | TRADE | BEARISH | 07/26/24 | $12.2 | $11.05 | $11.35 | $155.00 | $56.7K | 143 | 0 |
| GE | PUT | SWEEP | NEUTRAL | 09/20/24 | $11.95 | $11.6 | $11.8 | $170.00 | $48.3K | 1.6K | 0 |
| GE | PUT | SWEEP | BULLISH | 09/20/24 | $11.25 | $11.05 | $11.09 | $170.00 | $45.4K | 1.6K | 41 |
| GE | PUT | SWEEP | BULLISH | 09/20/24 | $11.7 | $11.65 | $11.65 | $170.00 | $44.2K | 1.6K | 82 |
GE Aerospace is the global leader in designing, manufacturing, and servicing large aircraft engines, along with partner Safran in their CFM joint venture. With its massive global installed base of nearly 70,000 commercial and military engines, GE Aerospace earns most of its profits on recurring service revenue of that equipment, which operates for decades. GE Aerospace is the remaining core business of the company formed in 1892 with historical ties to American inventor Thomas Edison; that company became a storied conglomerate with peak revenue of $130 billion in 2000. GE spun off its appliance, finance, healthcare, and wind and power businesses between 2016 and 2024.
In light of the recent options history for GE Aero, it's now appropriate to focus on the company itself. We aim to explore its current performance.
3 market experts have recently issued ratings for this stock, with a consensus target price of $202.66666666666666.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest GE Aero options trades with real-time alerts from Benzinga Pro.
Posted In: GE
