Deep-pocketed investors have adopted a bearish approach towards GameStop ( GME ) , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GME usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 33 extraordinary options activities for GameStop ( GME ). This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 24% leaning bullish and 63% bearish. Among these notable options, 22 are puts, totaling $1,099,279, and 11 are calls, amounting to $865,907.
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 $30.0 for GameStop ( GME ), spanning the last three months.
In terms of liquidity and interest, the mean open interest for GameStop ( GME ) options trades today is 3462.67 with a total volume of 50,403.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for GameStop's ( GME ) big money trades within a strike price range of $10.0 to $30.0 over the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GME | CALL | SWEEP | BULLISH | 1.9K | 3.6K | ||||||
| GME | CALL | SWEEP | BEARISH | 74 | 2.2K | ||||||
| GME | PUT | SWEEP | NEUTRAL | 4.2K | 254 | ||||||
| GME | CALL | SWEEP | BULLISH | 1.9K | 4.8K | ||||||
| GME | PUT | TRADE | BEARISH | 6.4K | 166 |
GameStop Corp ( GME ) is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States. The company sells new and second-hand video game hardware, physical and digital video game software, and video game accessories, mainly through GameStop ( GME ), EB Games, and Micromania stores and international e-commerce sites. The majority of sales are from the United States. The company categorizes its products in three categories: Hardware and accessories, Software, and Collectibles. The company generates the majority of its revenue from the sale of Hardware and accessories products.
With a volume of 21,120,584, the price of GME is down -17.41% at $23.58.
RSI indicators hint that the underlying stock may be approaching oversold.
Next earnings are expected to be released in 89 days.
In the last month, 1 experts released ratings on this stock with an average target price of $13.5.
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* An analyst from Wedbush has revised its rating downward to Underperform, adjusting the price target to $13.
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 GameStop ( GME ), Benzinga Pro gives you real-time options trades alerts.
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