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News

This Is What Whales Are Betting On GameStop

Author: Benzinga Insights | May 22, 2024 09:46am

Whales with a lot of money to spend have taken a noticeably bearish stance on GameStop.

Looking at options history for GameStop (NYSE:GME) we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $464,355 and 3, calls, for a total amount of $81,760.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $21.5 and $95.0 for GameStop, spanning the last three months.

Volume & Open Interest Trends

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 $21.5 to $95.0 over the preceding 30 days.

GameStop Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
GME PUT TRADE BEARISH 01/17/25 $65.75 $63.0 $65.75 $85.00 $124.9K 0 40
GME PUT TRADE BEARISH 06/20/25 $61.4 $59.8 $61.4 $80.00 $116.6K 0 20
GME PUT TRADE BULLISH 01/17/25 $47.9 $46.6 $46.6 $65.00 $88.5K 31 40
GME PUT TRADE BEARISH 01/17/25 $61.3 $59.9 $60.9 $80.00 $73.0K 19 54
GME PUT TRADE BEARISH 01/17/25 $65.75 $65.6 $65.75 $85.00 $32.8K 0 76

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.

In light of the recent options history for GameStop, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of GameStop

  • With a volume of 1,258,037, the price of GME is down -2.98% at $21.46.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 14 days.

What The Experts Say 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 $7.0.

  • An analyst from Wedbush has decided to maintain their Underperform rating on GameStop, which currently sits at a price target of $7.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for GameStop with Benzinga Pro for real-time alerts.

Posted In: GME