General Dynamics Corporation (GD) is an aerospace and defense company that offers a wide array of services and products related to aviation, weapons systems and communication technology. The company’s stock is currently trading around $115.30 in a 52 week range of $75.32-$115.96. The stock has been massively outperforming the market with shares rallying more than 20% year to date. Options traders are looking for even more upside in GD as orders hitting the tape during today’s session have been very bullish. Earlier this morning a trader bought 1,882 GD Jun 120 calls for $0.70 and another 1,970 for $0.89. This is a very bullish trade and these blocks represent volume nearly 6 times the average daily option volume in GD. With stock trading above the Ichimoku Cloud and just off of its 52 week highs order flow like this could be signaling for a long opportunity in GD.
My Trade: I bought the GD Jun 120 Calls for $0.90
Risk: $90 per 1 lot