Put Options on GM on 7/10/2015

General Motors Company (GM) designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide.

It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments.

The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, as well as under the Alpheon, Baojun, Jiefang, and Wuling brand names. It also sells cars and trucks to dealers for consumer retail sales, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments.

In addition, the company offers connected safety, security and mobility solutions, and information technology services. The company, through its subsidiary, General Motors Financial Company, Inc., provides automotive financing services. 

Shares have formed a bearish "flag" and lower share prices are expected for this stock. Today, the stock should get a pop, we will use the strength to buy put options.

52-Weeks Trading Range: $28.82 - $38.99

Last Trade: $31.34

Trade Buy 1 August $32.00 Put at $1.60 For a net debit of $1.60 Profit/Loss Analysis Breakeven at $30.40 Maximum profit is unbounded Maximum loss is ($160.00) at strike of $32.00 Closing Summary Sold 1 August $32.00 Put at $2.10

Position closed on 8/12/2015 at price of $2.10 with a 31.25% gain in 33 days.

Updates

8/12/2015 10:16:48 AM

We are taking profits on GM August $32 Put options. Closed at $2.10.

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