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GameStop's Options: A Look at What the Big Money is Thinking

Author: Benzinga Insights | August 16, 2024 11:19am

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 11 trades.

If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 27% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $103,000 and 9, calls, for a total amount of $408,551.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $17.0 to $40.0 for GameStop over the last 3 months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in GameStop's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to GameStop's substantial trades, within a strike price spectrum from $17.0 to $40.0 over the preceding 30 days.

GameStop Call and Put Volume: 30-Day Overview

Options Call Chart

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
GME CALL SWEEP BULLISH 08/16/24 $2.5 $2.43 $2.5 $20.00 $81.2K 7.0K 449
GME PUT TRADE BULLISH 01/16/26 $6.2 $3.0 $4.0 $17.00 $64.0K 713 0
GME CALL TRADE BEARISH 01/16/26 $6.95 $6.0 $6.0 $40.00 $60.0K 736 100
GME CALL SWEEP BULLISH 01/17/25 $4.4 $4.25 $4.25 $25.00 $51.4K 5.7K 133
GME CALL SWEEP BEARISH 10/18/24 $4.15 $4.0 $4.1 $20.00 $46.3K 7.2K 288

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

  • With a volume of 1,257,407, the price of GME is down -0.31% at $22.46.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 19 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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