Options Volume Spike: General Motors (GM)

Posted in Options 
January 14th, 2009

General Motors (NYSE: GM) is one we have not highlighted in some time for any “volume spike” activity.  We just saw a call options trade that sent up the red flag, but it might have just been an exit trade where a call option owner merely sold the option.  Here is the data we saw in the GM JUNE-2009 $3.00 CALL, with the stock trading down 5% at $3.81 currently:

  • Last Trade $1.00, down $0.20
  • Bid $0.99 X Ask $1.09
  • Total Trade volume: 20,606
  • Open Interest: 58,183

GM stock is down today but it is on very thin volume of only about 4.4 million shares (at 11:16 AM EST) and the average volume is roughly 37 million shares.  This is now the most active contract on the CBOE volume reports.

Jon C. Ogg
January 14, 2009

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