A whale with a lot of money to spend has taken a noticeably bearish stance on GameStop.
Looking at options history for GameStop (NYSE:GME) we detected 40 strange trades.
If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 65% with bearish.
From the overall spotted trades, 15 are puts, for a total amount of $966,325 and 25, calls, for a total amount of $969,086.
What’s The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $600.0 for GameStop over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for GameStop options trades today is 844.16 with a total volume of 14,428.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for GameStop’s big money trades within a strike price range of $40.0 to $600.0 over the last 30 days.
GameStop Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GME | PUT | SWEEP | BEARISH | 06/17/22 | $100.00 | $234.0K | 1.3K | 317 |
| GME | CALL | SWEEP | BEARISH | 03/25/22 | $75.00 | $140.0K | 183 | 72 |
| GME | PUT | TRADE | BEARISH | 06/17/22 | $100.00 | $135.6K | 1.3K | 80 |
| GME | PUT | TRADE | BEARISH | 04/22/22 | $110.00 | $132.9K | 130 | 61 |
| GME | CALL | SWEEP | BEARISH | 03/25/22 | $100.00 | $54.3K | 2.2K | 5.1K |
Where Is GameStop Standing Right Now?
- With a volume of 3,495,163, the price of GME is up 2.82% at $93.35.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 79 days.
What The Experts Say On GameStop:
- Wedbush has decided to maintain their Underperform rating on GameStop, which currently sits at a price target of $30.
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.
