The largest trade yesterday in GE was at 1:16pm when a trader sold 20,000 contracts of June $15 puts to finance the purchase of 20,000 June $18 calls, for a net credit of 5 cents. The trade remains profitable above $14.95. The same exact trade repeated again at 2:14pm with 3350 contracts. 
Interestingly, this goes along with bullish risk reversal in UPS yesterday when traders sold at 11:22pm and 3:15pm a total 7959 contracts of July $50 puts to finance the purchase of July $70 calls, for net credit of 27 cents. Both stocks are trading in a well-defined channel and traders are betting GE and UPS to breakout to the upside from their channel (see chart to the right). I love these bullish risk reversals since they're done for net credit and stocks have to fall below their current support line to turn into a loss.
I am not taking any actions yet. Watching both GE and UPS and setting triggers in TOS. GE is a buy on a breakout above $17 through purchase of June $16 straight call options. Currently, GE June $16 calls are going for $1.17. UPS is a buy above $64 through July 65/70 call spread. Currently, the call spread is going for $0.93.
In both cases, the trigger is set 2 cents above the mark on the breakout. I'll post a housekeeping note when the trigger is hit. Good luck!
