GE Aerospace dropped nearly two points. While the total options volume remained relatively unchanged, the Put/Call ratio surged to 1.592, with put volumes exceeding call volumes by more than half. The open interest (OI) Put/Call ratio was only 1.051, indicating that this bearish sentiment stems from positions opened earlier today.
New Era Energy also saw a slight decline. Options trading volume expanded to 34,624 contracts, a 1.95x increase, yet the Put/Call ratio of 0.666 leans bullish.
The surge in call buying is concentrated in utilities weighed down by interest rates, while the contraction in put buying involves the leading aero-engine manufacturer that just hit new highs. The options market's pricing for these two stocks tells a different story than the spot market's synchronized decline on the same day.
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