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 8 options trades for GameStop.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 25%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $41,060, and 7, calls, for a total amount of $294,615.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $125.0 for GameStop during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of GameStop stands at 6022.43, with a total volume reaching 3,259.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in GameStop, situated within the strike price corridor from $15.0 to $125.0, throughout the last 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 | SWEEP | NEUTRAL | 08/23/24 | $1.48 | $1.26 | $1.39 | $21.00 | $83.5K | 1.1K | 853 |
| GME | CALL | TRADE | NEUTRAL | 10/18/24 | $7.9 | $7.35 | $7.63 | $15.00 | $57.2K | 2.0K | 75 |
| GME | PUT | TRADE | BEARISH | 01/17/25 | $102.9 | $102.05 | $102.65 | $125.00 | $41.0K | 548 | 6 |
| GME | CALL | SWEEP | BULLISH | 09/06/24 | $1.0 | $0.98 | $1.0 | $22.50 | $39.9K | 928 | 285 |
| GME | CALL | SWEEP | BEARISH | 08/23/24 | $1.48 | $1.26 | $1.37 | $21.00 | $30.1K | 1.1K | 241 |
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.
Following our analysis of the options activities associated with GameStop, we pivot to a closer look at the company's own performance.
GameStop's Current Market Status
- With a trading volume of 1,650,933, the price of GME is up by 0.54%, reaching $22.24.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 12 days from now.
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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