Notable option flow in GE as shares tick higher after earnings
Notable option flow in GE as shares tick higher after earnings. The stock dropped to multi-year lows of $10.51 early Tuesday, but are now up 11c to $11.27. On the option front, 146.5K Jan 9 - 11 put spreads sold 45c and liquidates a matching position opened for 54c Friday (part of a longer-term put spread that was rolled several times and is being covered entirely today after the profit report). Separately, one player sold 60K GE Jan 11 puts at 65c, untied, and appears to be closing a stock hedge. Separately, 10K Dec 12 puts trade $1.21 and is closing as well. 12.3K traded. 11K Nov 2nd 11 puts also changed hands. Nov 2nd 11.5 calls, Nov 11 puts, and Nov 2nd 11 calls are next most active in GE. 423K puts and 59K calls trade through the first thirty minutes. 30-day implied volatility plummeted 25% to 43 and well below Friday's 52-week highs of 58.5.