Could These G.M. Puts Go up 50% This Week?
Fighting strong stocks is a tough game especially with the indexes seemingly so strong. The Nasdaq Composite ended the holiday week at 23,366 - up 5.8% over four days. The DJIA turned up last week after a four-week slide. Now this. G.M. only reports it's production numbers on a quarterly basis and it's next report is not due out until 2026. I also know that about six weeks ago G.M. popped on an earnings report. So why will this week's stock performance be anything different for G.M. than last week? I don't have an exact reason however I just want you to hone in on this series of Puts which expire in two weeks. The open interest in this series of Puts is next to nothing. Two weeks away is a long time in the option market. I feel that G.M. is overextended as it seems to sell off near the close everyday. Yet then again, what do I know? Attempting to pick the tops of these swings is most often a losing proposition.
