How Large Option Traders Are Playing GE’s Stock After Regulators Clear 737 Max
General Electric Company (NYSE: GE) shares traded higher by 5.7% on Friday after Bloomberg reported the Boeing Co (NYSE: BA) 737 Max has been cleared by European regulators to resume flights before the end of the year.
A flurry of large GE option trades were mixed in nature on Friday as investors analyze just how much of an impact the 737 Max could have on GE’s 2021 outlook.
The GE Trades: On Friday morning, Benzinga Pro subscribers received 34 option alerts related to unusually large trades of GE Airlines options. Here are a handful of the biggest:
- At 10:03 a.m., a trader bought 1,005 GE call options with a $7 strike price expiring on March 19 near the ask price at $1.021. The trade represented a $102,610 bullish bet.
- At 11:10 a.m., a trader bought 1,703 GE call options with an $8 strike price expiring on Jan.15 near the ask price at 48 cents. The trade represented a $81,744 bullish bet.
- At 11:13 a.m., a trader sold 2,068 GE put options with a $5 strike price expiring in January 2022 near the bid price at 58 cents. The trade represented a $119,944 bullish bet.
- At 11:21 a.m., a trader sold 887 GE call options with a $7 strike price expiring on March 19 near the bid price at $1.121. The trade represented a $99,432 bearish bet.
Of the 34 total large GE …