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Decoding GameStop's Options Activity: What's the Big Picture?

Author: Benzinga Insights | July 18, 2024 10:32am

Whales with a lot of money to spend have taken a noticeably bullish stance on GameStop.

Looking at options history for GameStop (NYSE:GME) we detected 14 trades.

If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 35% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $303,127 and 5, calls, for a total amount of $255,604.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $125.0 for GameStop over the recent three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of GameStop stands at 4554.45, with a total volume reaching 3,036.00. 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 $20.0 to $125.0, throughout the last 30 days.

GameStop 30-Day Option Volume & Interest Snapshot

Options Call Chart

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 TRADE BULLISH 09/20/24 $7.15 $6.75 $7.0 $25.00 $70.0K 2.6K 8
GME CALL TRADE BEARISH 07/26/24 $3.7 $3.55 $3.6 $25.00 $64.8K 5.6K 564
GME CALL SWEEP BULLISH 07/19/24 $2.8 $2.66 $2.77 $25.00 $55.0K 27.5K 1.5K
GME PUT TRADE BULLISH 09/20/24 $5.5 $5.1 $5.1 $27.00 $50.9K 196 5
GME CALL SWEEP BULLISH 07/26/24 $1.13 $1.1 $1.13 $35.00 $40.6K 6.6K 339

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

Current Position of GameStop

  • Trading volume stands at 3,713,144, with GME's price up by 0.18%, positioned at $28.03.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 48 days.

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.

Posted In: GME

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