This Is What Whales Are Betting On GameStop

Someone with a lot of money to spend has taken a bullish stance on GameStop GME.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 17 uncommon options trades for GameStop.

This isn't normal.

The overall sentiment of these big-money traders is split between 52% bullish and 47%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $474,895, and 8 are calls, for a total amount of $572,883.

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 $50.0 to $200.0 for GameStop over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for GameStop's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of GameStop's whale activity within a strike price range from $50.0 to $200.0 in 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 Strike Price Total Trade Price Open Interest Volume
GME CALL SWEEP BEARISH 01/20/23 $80.00 $163.8K 192 50
GME CALL SWEEP BULLISH 06/03/22 $50.00 $131.4K 101 70
GME PUT TRADE BULLISH 06/17/22 $90.00 $125.0K 2.3K 129
GME CALL SWEEP BULLISH 06/03/22 $50.00 $87.8K 101 20
GME PUT TRADE BULLISH 05/20/22 $130.00 $71.4K 1.0K 30

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GME CALL SWEEP BEARISH 01/20/23 $80.00 $163.8K 192 50
GME CALL SWEEP BULLISH 06/03/22 $50.00 $131.4K 101 70
GME PUT TRADE BULLISH 06/17/22 $90.00 $125.0K 2.3K 129
GME CALL SWEEP BULLISH 06/03/22 $50.00 $87.8K 101 20
GME PUT TRADE BULLISH 05/20/22 $130.00 $71.4K 1.0K 30

Where Is GameStop Standing Right Now?

  • With a volume of 1,225,667, the price of GME is up 3.01% at $94.23.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 20 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets