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 9 uncommon options trades for GameStop.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $84,127, and 7 are calls, for a total amount of $379,697.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $21.5 to $30.0 for GameStop over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for GameStop options trades today is 6972.0 with a total volume of 5,965.00.
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 $21.5 to $30.0 over the last 30 days.
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 | 01/17/25 | $2.4 | $2.35 | $2.35 | $30.00 | $111.5K | 13.1K | 1.0K |
| GME | CALL | SWEEP | BEARISH | 11/15/24 | $1.3 | $1.2 | $1.2 | $25.00 | $60.4K | 15.0K | 542 |
| GME | CALL | SWEEP | BEARISH | 11/15/24 | $1.25 | $1.16 | $1.16 | $25.00 | $59.1K | 15.0K | 1.0K |
| GME | PUT | SWEEP | BULLISH | 11/01/24 | $0.65 | $0.51 | $0.52 | $22.00 | $52.4K | 1.8K | 1.3K |
| GME | CALL | TRADE | BEARISH | 01/17/25 | $4.0 | $3.8 | $3.83 | $23.00 | $49.7K | 4.3K | 189 |
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.
Where Is GameStop Standing Right Now?
- Currently trading with a volume of 1,911,188, the GME's price is down by -1.32%, now at $22.43.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 36 days.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for GameStop with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
