Stocks

Unusual Options Activity In GE

Two month ago, I talked about how GE had bottomed and a close above the $8 level would confirm that bottom,

Has GE Bottomed???

But before considering going long, the conviction for me would be if price can pull back to the daily demand at $6.75, then take out the $8 level, the bottom in GE would be more convincing at that point.

One month ago, I talked about since price closed above $8, the next two levels I was targeting was
daily supply at $10 and $11.50.

Has GE Bottomed??? – Part 2

Both levels were hit, but now price is pulling back from the $11.50 daily supply.

GE has had one hell of a run the last since early December with the stock price increasing almost 100% in a little less than 3 months. Yesterday, I noticed unusual options activity in GE. The Smart Money bought a ton of the April 15 $9.50 and $9.00 put options.

Those strike prices represent a nearly 38.2% and 50% fib retracement.

The price action over the next several weeks should be interesting. If the Smart Money is going to be right on this one, they don’t have a lot of time as the options expire in less than 45 days.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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