The company reported fourth-quarter earnings and revenue above estimates
GE Aerospace (NYSE:GE) stock is slipping today, down 6.2% at $298.71 at last glance, despite the company's better-than-expected fourth-quarter earnings and revenue results and full-year forecast. Investors could be concerned over slowing growth after such an extended outperformance.
Falling from its recent Jan. 6 record high of $332.79, today's drop has GE breaking into negative territory for the month. Year over year, the shares are still enjoying a 59% lead.
Unsurprisingly, options traders have been quick to target GE today. So far, 17,000 calls and 12,000 puts have been exchanged, which is six times overall options volume typically seen at this point. The February 320 put is the most popular, with new positions opening at the weekly 1/23 315-strike call.
Meanwhile, short interest has been declining, off 16.6% over the last month, though it would still take shorts over three days to buy back their borrowed shares.