GameStop Unusual Options Activity For May 02

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

Looking at options history for GameStop GME we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 37% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $150,000 and 6, calls, for a total amount of $1,283,993.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $50.0 for GameStop, spanning the last three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for GameStop options trades today is 7687.12 with a total volume of 27,656.00.

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 $10.0 to $50.0 over the last 30 days.

GameStop Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
GME CALL TRADE BEARISH 06/21/24 $2.75 $2.69 $2.68 $12.00 $804.0K 9.5K 3.5K
GME CALL TRADE BULLISH 05/17/24 $1.18 $1.03 $1.18 $15.00 $354.0K 22.1K 8.2K
GME PUT TRADE BEARISH 05/17/24 $1.6 $1.5 $1.6 $12.00 $104.0K 932 158
GME PUT SWEEP NEUTRAL 06/21/24 $1.3 $1.15 $1.15 $10.00 $45.9K 2.7K 558
GME CALL SWEEP BULLISH 01/17/25 $0.9 $0.5 $0.89 $50.00 $40.6K 1.0K 457

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?

  • With a trading volume of 5,526,798, the price of GME is up by 10.52%, reaching $12.06.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 34 days from now.

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.

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Posted In: OptionsMarketsBZI-UOA
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