General Electric Stock Slips After Earnings

Put traders continue to chime in on the stock

Deputy Editor
Jan 25, 2022 at 10:25 AM
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General Electric Co (NYSE:GE) is down 68.3% to trade at $88.83 this morning, after the company's fourth-quarter report. The industrial name announced profits of 92 cents per share, which is higher than the 85 cents anticipated by analysts; however, revenue missed expectations as supply chain issues weighed. Inflationary pressure also dented costs, and though General Electric expects it to remain a challenge during the year, the company forecasted higher profit and free cash flow for 2022. 

On the charts, General Electric stock has careened lower since its most recent run was cut short at the $103 level in mid January, with pressure from its 200-day moving average. Today, GE dipped below its year-to-date breakeven. 

Puts are much more popular than usual in the options pits. This is per General Electric stock's 10-day put/call volume ratio of 1.36 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 95% of readings from the past year. 

Today, this penchant for puts is still going strong, amid a surge in options activity. So far, 15,000 puts have crossed the tape, compared to 8,193 calls, with options volume running at five times its intraday average. The weekly 1/28 88-strike put is the most popular, with new positions being opened there. 

 

 

 

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