Large open interest is opening up for Jan 2014 call options at $35 and $40:
Strike ... Volume ... Open Int
$35 ... 10035 ... 36985
$40 ... 10005 ... 31583
Posted on 01/28/2013 by Norm Sorkin:
".... NEW YORK (AVAFIN) -- A record number of General Motors Company call contracts were traded during the busy trading session. There were 3.6 call contracts traded for each put contract yielding a 0.28 put/call ratio where 7,151 put and 25,523 call contracts exchanged hands.
The ratio skew implies that investors are hedging their positions in anticipation of a stock move. Today's unusual volume activity confirms that traders are re-balancing their portfolios.
Shares of GM closed at $28.83 during the previous session. During the session, the stock hit a low of $28.61 and high of $29.15. The current trading volume of 6M is less than average volume of 10M shares. GM is trading above the 50 day moving average and higher than the 200 day moving average. The stock's 52 week low is $18.72 and 52 week high is $30.68. To date, the stock has lost -1.42% within the last week. ...."