Investors with a lot of money to spend have taken a bearish stance on GameStop GME.
And retail traders should know.
We noticed this today when the trades 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.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 20 uncommon options trades for GameStop.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 65%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $535,991, and 15 are calls, for a total amount of $1,377,854.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $19.0 to $125.0 for GameStop over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for GameStop options trades today is 6457.88 with a total volume of 54,553.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for GameStop's big money trades within a strike price range of $19.0 to $125.0 over the last 30 days.
GameStop Option Volume And Open Interest Over Last 30 Days
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 | BEARISH | 01/17/25 | $3.5 | $3.45 | $3.45 | $20.00 | $345.1K | 23.2K | 10.0K |
| GME | PUT | SWEEP | BULLISH | 01/16/26 | $18.85 | $18.25 | $18.25 | $35.00 | $270.1K | 107 | 0 |
| GME | CALL | SWEEP | BEARISH | 01/17/25 | $3.75 | $3.55 | $3.55 | $20.00 | $230.1K | 23.2K | 3.2K |
| GME | CALL | SWEEP | BEARISH | 01/17/25 | $3.75 | $3.65 | $3.69 | $20.00 | $147.5K | 23.2K | 1.1K |
| GME | PUT | SWEEP | BULLISH | 01/16/26 | $18.75 | $18.3 | $18.3 | $35.00 | $139.0K | 107 | 224 |
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.
Present Market Standing of GameStop
- With a volume of 4,482,885, the price of GME is down -3.03% at $19.55.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 77 days.
What The Experts Say On GameStop
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $10.0.
- Consistent in their evaluation, an analyst from Wedbush keeps a Underperform rating on GameStop with a target price of $10.
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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