GameStop’s Options Frenzy: What You Need to Know – GameStop (NYSE: GME )

Investors with a lot of money to spend have taken a bearish stance GameStop GME.

And retailers should know.

We noticed this today when the trades appeared on publicly available options history that we track here at Benzinga.

Whether it’s institutions or just wealthy individuals, we don’t know. But when something this big happens to GME, it often means someone knows something is up.

So how do we know what these investors just did?

Today, Benzinga‘s options scanner discovered 45 unusual options trades for GameStop.

This is not normal.

The overall sentiment among these big-money traders is split between 17% bullish and 51%, bearish.

Out of all the special options we revealed, 36 are puts for a total of $1,085,100 and 9 are calls for a total of $882,465.

Expected price targets

After evaluating the trading volume and Open Interest, it is clear that the major market moves focus on a price band between $13.0 and $125.0 for GameStop spanning the last three months.

Volume and open interest trends

Looking at 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 in 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 of $13.0 to $125.0 in the last 30 days.

GameStop Call and Put Volume: 30-Day Summary

Biggest opportunities found:

About GameStop

GameStop Corp is an American multichannel video game, consumer electronics, and service retailer. The company operates across Europe, Canada, Australia and the United States. GameStop sells new and used video game hardware, physical and digital video game software, and video game accessories, primarily through GameStop, EB Games, and Micromania stores and international e-commerce sites. The majority of sales are from the United States.

Where does GameStop stand right now?

• With a volume of 3,568,577, the price of GME has risen 1.74% to $26.9.
• RSI indicators suggest that the underlying stock may be overbought.
• Next earnings are expected to be published in 15 days.

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Options trading presents higher risks and potential rewards. Smart traders manage these risks by continuously 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.