div > div.group > p:first-child"> GE shares shed more than 8 percent in Wednesday's trading session after several notes from renowned J.P. Morgan analyst Stephen Tusa highlighted ongoing issues with the company's struggling business lines and questioned the stock's valuation. On Tuesday, CEO Larry Culp told Tusa that GE's industrial cash flow would be negative for 2019.
"There's a lot going on in GE right now, and, unsurprisingly, there's a lot of options trading. How much? 800,000 contracts today. To put things in perspective, that's more than Apple and Facebook combined," he said Wednesday."One of the areas that we saw a lot of activity was the puts." In GE's case,"the top five most active options were all puts," Khouw said. While some of them were likely tied to GE's plans to spin off some of its businesses, a large portion were betting on further weakness, he said.
A note from J.P. Morgan on Thursday seemed to agree with those traders, saying that sentiment in the options market was"overly optimistic" and arguing that"shares of GE are unlikely to breach $10 in the near term."
Source: News Formal (newsformal.com)
Next time Culp speaks! 50% drop
When a stock with a huge float can be so easily whipsawed the games are on.
anything to screw the little guy...……...
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