High-rolling investors have positioned themselves bullish 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 16 options trades for GameStop. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 31% bearish. Among all the options we identified, there was one put, amounting to $41,334, and 15 calls, totaling $842,586.
What's The Price Target?
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 $50.0 for GameStop, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for GameStop options trades today is 6745.75 with a total volume of 6,843.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for GameStop's big money trades within a strike price range of $20.0 to $50.0 over the last 30 days.
GameStop 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GME | CALL | SWEEP | NEUTRAL | 11/29/24 | $1.05 | $0.72 | $0.88 | $47.00 | $178.0K | 35 | 2.0K |
| GME | CALL | SWEEP | BEARISH | 01/17/25 | $4.65 | $4.55 | $4.55 | $40.00 | $91.1K | 27.9K | 766 |
| GME | CALL | SWEEP | BULLISH | 11/15/24 | $5.65 | $5.6 | $5.6 | $22.00 | $86.2K | 9.0K | 283 |
| GME | CALL | SWEEP | BULLISH | 11/15/24 | $6.75 | $6.3 | $6.64 | $21.00 | $66.4K | 6.8K | 289 |
| GME | CALL | SWEEP | BULLISH | 11/15/24 | $6.75 | $6.45 | $6.64 | $21.00 | $49.8K | 6.8K | 185 |
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.
GameStop's Current Market Status
- Currently trading with a volume of 7,460,340, the GME's price is up by 3.51%, now at $27.39.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 20 days.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
