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

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

And retailers should know.

That’s what we noticed today when the trades started showing up in the publicly available options history we track here at Benzinga.

We don’t know whether these are institutions or just wealthy individuals. But when something this big happens with GME, it often means someone knows something is going to happen.

So how do we know what these investors just did?

Today, Benzinga’s Options Scanner discovered 45 unusual options trades for GameStop.

That’s not normal.

The overall sentiment of these major traders is 17% bullish and 51% bearish.

Of all the special options we uncovered, 36 are puts totaling $1,085,100 and 9 are calls totaling $882,465.

Forecasted price targets

After evaluating trading volumes and open interest, it is evident that major market movers are focused on a price range between $13.0 and $125.0 for GameStop, spanning the past three months.

Volume and open interest trends

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

This data allows you to track the liquidity and interest of GameStop options for a specific strike price.

Below we can observe the evolution of volume and open interest on calls and puts respectively for all GameStop whale activity within a strike price range of $13.0 to $125.0 over the past 30 days.

GameStop Call and Put Volume: 30-Day Overview

Biggest options discovered:

About GameStop

GameStop Corp is an American multichannel retailer of video games, consumer electronics and services. The company operates in 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 websites. The majority of sales occur in the USA.

Where is GameStop currently?

• The price of GME increased by 1.74% to $26.9 on volume of 3,568,577.
• RSI indicators suggest that the underlying stock may be overbought.
• The next earnings are expected to be released in 15 days.

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Options trading carries higher risks and potential rewards. Smart traders manage these risks by continually educating themselves, adjusting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay up to date on the latest GameStop options trades with real-time alerts from Benzinga Pro.