General Electric Company (GE) $15.43 -2.16%
NY Expo Case Study. GE is down 2.2 percent to $15.43, as a broad sell-off sent GE and all 29 other Dow stocks lower at the opening bell Friday. Weak Euro-zone economic growth numbers, a tumbling euro, falling commodities prices, and a second move by the People’s Bank of China to raise reserve requirements seem to be weighing on morning action. In GE options, one noteworthy early trade is a June 11 – 15 put spread, apparently bought at 89 cents, 5000X on PHLX.
Category: All Stocks, Industrial Goods & Services, NY Expo Case Study
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
some technician on Options Action two or three fridays ago said the charts looked like they were ready to make a big move and there is a good chance it would be to the upside. They recommended a risk reversal, I forget which strikes and I forget which month.
Thanks. I think this spread was motivated by fear this morning, which seems a little overdone. GE would need for fall to $11 by June for this spread to reach its max payoff. 14.11 to breakeven.
I guess it’s good sh*t hit the fan insurance incase we double dip. 89 cents is kind of expensive though.