General Electric Company (NYSE: GE) was upgraded to "buy" from "neutral" this morning at Goldman Sachs. The brokerage firm cited comments from the U.S. House Financial Services Committee Chairman, who indicated that new regulations might not mandate the separation of GE Capital, for the upward revision. Goldman Sachs also upped its price target to $15 per share from $13 per share. With such juicy news hitting the wires this morning, options speculators have flooded GE with a wave of call activity.
According to our Intraday Volume Explosion List, more than 149,000 of these bullishly oriented contracts have changed hands on GE so far, pushing call volume to more than triple the equity's daily average. The most active strike has been the August 14 call, which has seen more than 51,000 contracts change hands on open interest of just 36,164 contracts.
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