Investors with a lot of money to spend have taken a bullish stance on GameStop GME.
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga's options scanner spotted 10 options trades for GameStop.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 30%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $27,000, and 9, calls, for a total amount of $406,356.
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 $20.0 for GameStop, spanning the last three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for GameStop's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across GameStop's significant trades, within a strike price range of $10.0 to $20.0, over the past month.
GameStop Option Volume And Open Interest Over Last 30 Days
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 | 01/16/26 | $14.0 | $12.4 | $12.4 | $10.00 | $91.7K | 1.9K | 86 |
| GME | CALL | SWEEP | BULLISH | 08/16/24 | $1.65 | $1.65 | $1.65 | $20.00 | $77.5K | 10.2K | 1.1K |
| GME | CALL | TRADE | BEARISH | 10/18/24 | $3.85 | $3.75 | $3.75 | $20.00 | $41.6K | 7.1K | 206 |
| GME | CALL | SWEEP | BEARISH | 08/16/24 | $1.76 | $1.54 | $1.55 | $20.00 | $39.3K | 10.2K | 1.9K |
| GME | CALL | SWEEP | BULLISH | 08/16/24 | $1.65 | $1.64 | $1.65 | $20.00 | $34.6K | 10.2K | 1.1K |
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.
After a thorough review of the options trading surrounding GameStop, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of GameStop
- With a volume of 2,949,146, the price of GME is down 0.0% at $20.65.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 29 days.
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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