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 trades 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.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 45 uncommon options trades for GameStop.
This isn't normal.
The overall sentiment of these big-money traders is split between 17% bullish and 51%, bearish.
Out of all of the special options we uncovered, 36 are puts, for a total amount of $1,085,100, and 9 are calls, for a total amount of $882,465.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $13.0 and $125.0 for GameStop, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $13.0 to $125.0 in the last 30 days.
GameStop Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GME | CALL | SWEEP | BEARISH | 01/17/25 | $3.3 | $3.05 | $3.05 | $40.00 | $270.6K | 28.2K | 943 |
| GME | CALL | TRADE | BEARISH | 01/16/26 | $16.75 | $16.0 | $16.1 | $13.00 | $217.3K | 1.4K | 136 |
| GME | CALL | SWEEP | BEARISH | 01/17/25 | $7.75 | $7.7 | $7.7 | $20.00 | $192.5K | 19.6K | 384 |
| GME | CALL | TRADE | BEARISH | 01/17/25 | $5.45 | $5.1 | $5.15 | $25.00 | $51.5K | 28.2K | 440 |
| GME | CALL | SWEEP | BEARISH | 12/06/24 | $1.9 | $1.65 | $1.71 | $28.00 | $42.9K | 1.3K | 258 |
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.
Where Is GameStop Standing Right Now?
- With a volume of 3,568,577, the price of GME is up 1.74% at $26.9.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 15 days.
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Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest GameStop options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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