Deep-pocketed investors have adopted a bullish approach towards GameStop GME, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GME usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for GameStop. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 54% leaning bullish and 36% bearish. Among these notable options, 2 are puts, totaling $132,333, and 9 are calls, amounting to $573,410.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $125.0 for GameStop, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in GameStop's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to GameStop's substantial trades, within a strike price spectrum from $10.0 to $125.0 over the preceding 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 | BULLISH | 06/21/24 | $4.3 | $4.1 | $4.3 | $21.00 | $216.7K | 4.0K | 9 |
| GME | CALL | TRADE | BULLISH | 07/19/24 | $4.4 | $4.35 | $4.4 | $25.00 | $88.0K | 14.3K | 17 |
| GME | PUT | SWEEP | NEUTRAL | 07/19/24 | $16.8 | $15.85 | $16.33 | $40.00 | $68.5K | 715 | 5 |
| GME | PUT | SWEEP | BULLISH | 06/28/24 | $16.0 | $14.7 | $15.17 | $40.00 | $63.7K | 689 | 11 |
| GME | CALL | SWEEP | BEARISH | 06/28/24 | $1.65 | $1.57 | $1.58 | $26.00 | $56.0K | 3.4K | 2.3K |
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.
Where Is GameStop Standing Right Now?
- With a volume of 9,434,153, the price of GME is down -3.37% at $24.73.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 75 days.
What Analysts Are Saying About GameStop
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $11.0.
- An analyst from Wedbush persists with their Underperform rating on GameStop, maintaining a target price of $11.
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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