General Motors (GM) shares have extended gains in recent weeks, but options traders believe they will pare back some of them after the earnings event on Oct. 20. Consensus is for the automaker to record $3.52 in earnings per share (EPS) for its third fiscal quarter, which would represent a healthy 25.71% increase on a year-over-year basis.
Heading into the quarterly print, General Motors stock is trading about 19% above its year-to-date low.