On the weekly chart, GM remains in a broader uptrend after a strong multi-month advance, but momentum is beginning to roll over. The Williams %R oscillator has moved sharply out of overbought territory (circled), indicating a potential loss of upside momentum. When a stock pulls back from extended levels on a weekly timeframe, it often leads to either consolidation or a deeper retracement.

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For option traders, this shift in momentum can create opportunity. Aggressive traders may look at short-term puts if price confirms weakness with follow-through below recent support. More conservative traders might wait for a pullback into support to evaluate call entries at better risk-reward levels. As always, align strike selection and expiration with the timeframe of the expected move, and respect the prevailing longer-term trend.

I wish you the very best,

Wendy