Spotlight on GE Aero: Analyzing the Surge in Options Activity

Author: Benzinga Insights | July 12, 2024 11:46am

Investors with a lot of money to spend have taken a bullish stance on GE Aero (NYSE:GE).

And retail traders should know.

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

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with GE, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 9 options trades for GE Aero.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 44%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $49,320, and 8, calls, for a total amount of $422,023.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $155.0 to $175.0 for GE Aero over the recent three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for GE Aero options trades today is 1993.43 with a total volume of 281.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for GE Aero's big money trades within a strike price range of $155.0 to $175.0 over the last 30 days.

GE Aero Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
GE	CALL	SWEEP	BULLISH	08/16/24	$5.15	$5.05	$5.15	$165.00	$196.7K	9.6K	152
GE	CALL	SWEEP	BEARISH	08/16/24	$5.15	$5.15	$5.15	$165.00	$51.5K	9.6K	152
GE	PUT	SWEEP	BULLISH	09/20/24	$14.1	$13.05	$13.25	$170.00	$49.3K	1.6K	0
GE	CALL	SWEEP	NEUTRAL	01/17/25	$10.15	$9.75	$9.96	$175.00	$36.0K	596	1
GE	CALL	SWEEP	BEARISH	01/17/25	$19.55	$19.25	$19.25	$155.00	$30.8K	251	6

About GE Aero

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.

GE Aero's Current Market Status

• Currently trading with a volume of 1,611,419, the GE's price is down by -0.99%, now at $160.32.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 11 days.

Expert Opinions on GE Aero

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $199.5.

• Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on GE Aero with a target price of $190.
• An analyst from UBS persists with their Buy rating on GE Aero, maintaining a target price of $209.

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