Stocks quoted in this article:
If you look at General Electric (GE - 166-11/16) as a proxy for the broader market, then the recent price action in the stock is encouraging to the bulls. Without much fanfare, GE has logged an all-time intraday high in today's trading. By comparison, the S&P 500 (SPX - 1474.80) remains about five percent off its all-time highs achieved on March 24. Despite the new high in the shares, options speculators as a whole are betting somewhat bearishly on GE today. At 11:30 a.m., among the May, June, and September option series, total put volume on GE was 3,875 contracts, while total call volume was only 2,956 contracts.