GameStop Options Traders See Stock Surging Through End Of July

GameStop Corp. GME shares recorded gains on Tuesday, as the stock has risen over 34% so far this year.

On CNBC’s "Options Action,"  Mike Khouw of Optimize Advisors said GameStop has remained one of the busier single stock options, with calls outpacing puts by 3.6 to 1 on Tuesday.

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There was a buyer of 595 of the July 28 weekly 24-calls at an average price of 65 cents per contract, Khouw mentioned.

Traders expect GameStop’s stock to rally through the end of July.

Ryan Cohen, last month, bought 443,842 shares of GameStop’s stock at an average price of $22.53 per share.

Price Action: GameStop shares rose 1.1% to close at $23.08 on Tuesday, and added 0.1% in the after-hours trading session.

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