This Is What Whales Are Betting On GameStop

A whale with a lot of money to spend has taken a noticeably bullish stance on GameStop.

Looking at options history for GameStop GME we detected 16 strange trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 14 are puts, for a total amount of $2,029,588 and 2, calls, for a total amount of $104,047.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $24.0 to $75.0 for GameStop over the last 3 months.

Volume & Open Interest Development

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 $24.0 to $75.0 in the last 30 days.

GameStop Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GME PUT TRADE BEARISH 10/21/22 $40.00 $608.0K 1.4K 803
GME PUT TRADE BULLISH 06/16/23 $50.00 $290.0K 2 200
GME PUT TRADE BEARISH 01/20/23 $75.00 $256.2K 752 187
GME PUT TRADE BEARISH 01/20/23 $75.00 $240.1K 752 61
GME PUT SWEEP BULLISH 10/21/22 $30.00 $125.7K 6.5K 1.6K

Where Is GameStop Standing Right Now?

  • With a volume of 2,688,217, the price of GME is up 0.83% at $24.74.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 48 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.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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