High-rolling investors have positioned themselves bullish on GameStop GME, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in GME often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for GameStop. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $60,000, and 7 calls, totaling $333,971.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $20.0 and $23.0 for GameStop, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for GameStop options trades today is 6001.83 with a total volume of 3,432.00.
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 $20.0 to $23.0 over the last 30 days.
GameStop 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GME | CALL | TRADE | BULLISH | 01/17/25 | $3.9 | $3.75 | $3.85 | $20.00 | $77.0K | 20.5K | 274 |
| GME | CALL | TRADE | BULLISH | 12/20/24 | $3.25 | $3.0 | $3.25 | $20.00 | $65.0K | 560 | 211 |
| GME | PUT | TRADE | BEARISH | 11/29/24 | $3.0 | $2.27 | $3.0 | $23.00 | $60.0K | 86 | 200 |
| GME | CALL | TRADE | BEARISH | 06/20/25 | $6.2 | $6.0 | $6.0 | $20.00 | $58.2K | 2.7K | 149 |
| GME | CALL | SWEEP | BEARISH | 11/15/24 | $0.88 | $0.81 | $0.81 | $22.00 | $41.9K | 5.6K | 1.6K |
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.
Having examined the options trading patterns of GameStop, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
GameStop's Current Market Status
- Trading volume stands at 1,520,403, with GME's price down by -0.52%, positioned at $21.11.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 44 days.
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Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for GameStop, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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