Shares of General Electric (GE) are trading flat on the session after rebounding off of the day?s lows. Currently, shares are up 0.02%, at $21.89. The stock has been trending higher for the past four months, making fresh four-year highs in the process.
Traders are betting that there is more run to run in GE and are betting that it does so in the next two trading sessions. The September $22 weekly call has seen over 14,500 contracts traded on open interest of just 1,740.
The action started shortly after the opening bell with the purchase of 5,000 contracts, on the offer, for $0.06. This was quickly followed by the purchase of 2,029 contracts, on the offer, for $0.07. Minutes ago, 1,254 contracts were purchased, on the offer, for $0.09. The strike is currently bid $0.11, at $0.12.
Near-term implied and historical volatility is running at 17% and 14%, respectively. At $0.09, the Sept $22 weekly call traded at 33% vol? quite the premium.
General Electric Company is a diversified technology and financial services company. The products and services of the company range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products.