High-rolling investors have positioned themselves bearish on GameStop GME, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GME often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for GameStop. This is not a typical pattern.
The sentiment among these major traders is split, with 25% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $41,700, and 7 calls, totaling $518,300.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $125.0 for GameStop over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of GameStop stands at 8758.4, with a total volume reaching 5,267.00. 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 $20.0 to $125.0, throughout the last 30 days.
GameStop Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GME | CALL | TRADE | BEARISH | 01/16/26 | $2.74 | $2.05 | $2.2 | $125.00 | $187.0K | 9.8K | 859 |
| GME | CALL | TRADE | NEUTRAL | 10/18/24 | $2.59 | $2.5 | $2.55 | $20.00 | $127.5K | 13.7K | 1.3K |
| GME | CALL | TRADE | BEARISH | 06/20/25 | $7.0 | $6.8 | $6.8 | $20.00 | $54.4K | 2.2K | 127 |
| GME | CALL | TRADE | NEUTRAL | 10/18/24 | $2.51 | $2.44 | $2.48 | $20.00 | $49.6K | 13.7K | 815 |
| GME | CALL | TRADE | BULLISH | 01/17/25 | $4.65 | $4.55 | $4.65 | $20.00 | $46.5K | 17.3K | 26 |
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.
Present Market Standing of GameStop
- With a volume of 3,761,340, the price of GME is down -1.57% at $21.51.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 72 days.
Expert Opinions on GameStop
In the last month, 1 experts released ratings on this stock with an average target price of $10.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Wedbush persists with their Underperform rating on GameStop, maintaining a target price of $10.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for GameStop with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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