It looks to open at $20.65-.68 today, with a bit of vim and vigor.
From Barron's The Striking Price column:
A Savvy Way to Buy General Electric
Selling puts is a cost-effective way to get in on an old name with fresh prospects.
If you like the prospects for General Electric's stock, here's a cost-effective way of picking up some shares.
Michael Schwartz, the dean of Wall Street's options strategists, today advised clients to sell General Electric's (ticker: GE) September $21 put in anticipation that GE's stock will continue to rally. The shares are up 14% since the start of the year.
Schwartz's firm, Oppenheimer & Co., raised GE's price target to $25 from $23 due to the global economic recovery, which will likely benefit GE whose businesses cover the span of the world economy.
"Noting significant inflections of late/long cycle industrial and infrastructure markets, we are increasingly biased that GE's guidance for about 5% organic industry revenue growth appears conservative," Christopher Glynn, who follows GE for Oppenheimer, advised clients in a Wednesday morning note....MORE
