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Looking At GameStop's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bullish stance on GameStop. Looking at options history for GameStop (NYSE:GME) we detected 14 strange trades.

Benzinga · 12/29/2021 10:22

A whale with a lot of money to spend has taken a noticeably bullish stance on GameStop.

Looking at options history for GameStop (NYSE:GME) we detected 14 strange trades.

If we consider the specifics of each trade, it is accurate to state that 64% of the investors opened trades with bullish expectations and 35% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $631,129 and 7, calls, for a total amount of $335,311.

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 $90.0 to $950.0 for GameStop over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for 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 trades within a strike price range from $90.0 to $950.0 in the last 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 Strike Price Total Trade Price Open Interest Volume
GME PUT SWEEP BULLISH 01/28/22 $200.00 $244.8K 123 99
GME PUT TRADE BEARISH 04/14/22 $250.00 $118.0K 41 0
GME CALL SWEEP BULLISH 01/20/23 $950.00 $102.9K 8.1K 45
GME CALL SWEEP BEARISH 06/17/22 $90.00 $65.9K 78 40
GME PUT TRADE BEARISH 01/28/22 $200.00 $61.1K 123 109

Where Is GameStop Standing Right Now?

  • With a volume of 235,082, the price of GME is down -1.79% at $143.84.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 83 days.

What The Experts Say On GameStop:

  • Ascendiant Capital has decided to maintain their Sell rating on GameStop, which currently sits at a price target of $23.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.