Deep-pocketed investors have adopted a bearish approach towards GameStop (NYSE:GME), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GME usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for GameStop. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 23% leaning bullish and 46% bearish. Among these notable options, 5 are puts, totaling $151,072, and 8 are calls, amounting to $374,860.
Predicted Price Range
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.
Analyzing 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 $15.0 to $125.0, over the past month.
GameStop Call and Put Volume: 30-Day Overview
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 | BULLISH | 12/20/24 | $5.65 | $5.6 | $5.65 | $25.00 | $93.2K | 7.5K | 1.9K |
| GME | CALL | SWEEP | BULLISH | 11/29/24 | $3.7 | $3.55 | $3.7 | $25.00 | $74.0K | 5.6K | 749 |
| GME | CALL | TRADE | BEARISH | 12/13/24 | $3.5 | $1.69 | $1.9 | $36.00 | $49.4K | 149 | 260 |
| GME | CALL | SWEEP | BEARISH | 11/29/24 | $1.12 | $1.1 | $1.1 | $30.00 | $35.5K | 25.6K | 13.7K |
| GME | CALL | SWEEP | BEARISH | 12/13/24 | $3.7 | $3.55 | $3.55 | $28.00 | $35.5K | 1.0K | 100 |
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.
Where Is GameStop Standing Right Now?
- Currently trading with a volume of 4,029,729, the GME's price is up by 3.19%, now at $28.79.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 14 days.
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