OptionsHouse

Options Trading News

June 14, 2013  Fri 3:16 AM CT

GM: SEE CHART GET CHAIN FIND STRATEGIES
A downside position topped yesterday's option activity in General Motors even as the stock jumped.

The biggest GM trade came in the June 33.50 puts when 10,000 contracts were bought for the ask price or $0.47, according to optionMONSTER's Depth Charge tracking system. There was no open interest in the strike before the trade appeared, showing that this is a new position.

The puts were not tied to any trading in the underlying shares identified by our systems yesterday. The trade could be an outright bearish play or a protective hedge on existing long shares. (See our Education section)

GM gained 3.14 percent on the day to close at $34.50, but it was below the $33.50 strike price when the options traded in the morning. The auto maker hit a high of $35.49 last week and was down below $28 two months ago.
Share this article with your friends


Related Stories

GM

Traders think GM is stuck in neutral

January 2, 2015

Calls were sold early today with the automaker back to its highest levels since the summer.

Invest Like a Monster - Las Vegas: March 13-14

Premium Services

Free Webinar

Option Money Machine Winter Classic

Education & Strategy

Rolling in possibilities!

First of all, we want to wish everyone a happy, healthy, and prosperous New Year!  Our plan was to get...

View more education articles »