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.


3 users commented on " General Electric Company (GE) $15.43 -2.16% "
Follow-up comment rss or Leave a Trackbacksome 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.