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Smart Money Is Betting Big In GME Options – GameStop (NYSE:GME)

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6 months ago

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Smart Money Is Betting Big In GME Options – GameStop (NYSE:GME)

Financial giants have made a conspicuous bullish move on GameStop. Our analysis of options history for GameStop GME revealed 13 unusual trades.

Delving into the details, we found 46% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $167,000, and 11 were calls, valued at $435,120.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $30.0 for GameStop during the past quarter.

Volume & Open Interest Development

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 $20.0 to $30.0 over the preceding 30 days.

GameStop 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
GME PUT TRADE BEARISH 01/16/26 $14.0 $13.75 $13.99 $30.00 $139.9K 649 81
GME CALL TRADE BULLISH 06/28/24 $5.15 $4.85 $5.15 $20.00 $77.2K 4.1K 77
GME CALL SWEEP BEARISH 01/17/25 $9.1 $8.6 $8.76 $25.00 $65.6K 2.4K 39
GME CALL SWEEP BULLISH 06/28/24 $0.67 $0.66 $0.67 $25.00 $40.3K 19.5K 2.1K
GME CALL TRADE NEUTRAL 01/17/25 $10.35 $8.9 $9.53 $22.00 $36.2K 171 0

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.

After a thorough review of the options trading surrounding GameStop, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

GameStop’s Current Market Status

  • Trading volume stands at 12,577,570, with GME’s price down by -0.36%, positioned at $25.0.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 68 days.

Expert Opinions on GameStop

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $11.0.

  • An analyst from Wedbush has decided to maintain their Underperform rating on GameStop, which currently sits at a price target of $11.

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.

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