Whales with a lot of money to spend have taken a noticeably bearish stance on GameStop.
Looking at options history for GameStop GME we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 12% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $55,745 and 6, calls, for a total amount of $329,062.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $20.0 and $30.0 for GameStop, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for GameStop's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of GameStop's whale trades within a strike price range from $20.0 to $30.0 in the last 30 days.
GameStop 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GME | CALL | TRADE | NEUTRAL | 06/07/24 | $2.16 | $1.96 | $2.06 | $26.00 | $103.0K | 2.8K | 549 |
| GME | CALL | TRADE | NEUTRAL | 06/07/24 | $1.91 | $1.8 | $1.85 | $26.50 | $92.5K | 1.4K | 560 |
| GME | CALL | SWEEP | BULLISH | 06/07/24 | $2.14 | $2.09 | $2.13 | $30.00 | $41.2K | 17.1K | 2.8K |
| GME | CALL | SWEEP | BEARISH | 06/07/24 | $1.75 | $1.73 | $1.73 | $30.00 | $34.6K | 17.1K | 5.0K |
| GME | CALL | SWEEP | BEARISH | 06/21/24 | $5.95 | $5.6 | $5.7 | $30.00 | $30.7K | 25.2K | 1.0K |
About GameStop
GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States. GameStop sells new and second-hand video game hardware, physical and digital video game software, and video game accessories, mainly through GameStop, EB Games, and Micromania stores and international e-commerce sites. The majority of sales are from the United States.
In light of the recent options history for GameStop, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of GameStop
- Currently trading with a volume of 6,116,047, the GME's price is up by 6.08%, now at $28.11.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 6 days.
What Analysts Are Saying About GameStop
In the last month, 1 experts released ratings on this stock with an average target price of $7.0.
- An analyst from Wedbush has decided to maintain their Underperform rating on GameStop, which currently sits at a price target of $7.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for GameStop, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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