Investors with a lot of money to spend have taken a bearish stance on GameStop GME.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with GME, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for GameStop.
This isn't normal.
The overall sentiment of these big-money traders is split between 11% bullish and 77%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $30,750, and 8, calls, for a total amount of $330,229.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $15.0 to $27.0 for GameStop over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of GameStop stands at 1657.6, with a total volume reaching 3,803.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in GameStop, situated within the strike price corridor from $15.0 to $27.0, throughout the last 30 days.
GameStop Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GME | CALL | TRADE | NEUTRAL | 09/20/24 | $7.5 | $7.3 | $7.39 | $15.00 | $55.4K | 1.1K | 89 |
| GME | CALL | SWEEP | BEARISH | 08/30/24 | $2.88 | $2.4 | $2.6 | $20.00 | $50.9K | 4.8K | 401 |
| GME | CALL | TRADE | BEARISH | 08/30/24 | $2.86 | $2.6 | $2.6 | $20.00 | $47.8K | 4.8K | 417 |
| GME | CALL | SWEEP | BEARISH | 09/13/24 | $1.18 | $1.17 | $1.18 | $24.00 | $46.7K | 268 | 443 |
| GME | CALL | TRADE | BULLISH | 10/18/24 | $1.8 | $1.62 | $1.79 | $27.00 | $44.7K | 1.2K | 284 |
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.
After a thorough review of the options trading surrounding GameStop, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of GameStop
- Currently trading with a volume of 1,753,277, the GME's price is down by -2.74%, now at $22.04.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 15 days.
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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