General Motors Company (GM) $30.00 -0.79%
GM loses 30 cents to $29.94 and sinks to new lows today. Shares are now off 12.5 percent since the stock resumed trading on November 18. Meanwhile, a noteworthy options trade in the auto-maker Monday is a May 28 – 30 put spread bought at 75 cents, 5000X. It’s maybe rolling down in strikes, as open interest is sufficient to cover in the 30s. Or, it’s possibly to hedge the risk of additional losses in the weeks ahead. Position delta of the spread is -.24.
Category: All Stocks, Automobiles & Parts, Large Cap Stocks
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About the Author (Author Profile)
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.
