General Electric Company (GE) $22.06 +0.05%
General Electric (GE) is up 4 cents to $22.09 and one of 15 Dow stocks holding gains after trading turned mixed Tuesday morning. One player in the options market recently bought 11,400 Jan 22.5 calls on GE for 62 cents per contract. The block is tied to 342K shares at $22.03 and might close. Open interest is 80,300 and the 6th largest OI in GE. The contract is 1.6 percent out-of-the-money and expiring in 122 days. GE, which is the only original member of the Dow that is still a component of the industrial average today, touched a 3-year high of $22.37 Friday and is up 23.3 percent year-to-date. Today’s Jan 22.5 call buyer seems to be anticipating new highs by early-2013.
Category: All Stocks, Industrial Goods & Services, 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.
