GameStop Option Alert: Sep 29 $21 Calls Sweep (36) near the Ask: 3224 @ $0.29 vs 746 OI; Ref=$17.4
Portfolio Pulse from Charles Gross
A significant number of GameStop's September 29th $21 call options were purchased, with 3224 contracts bought at $0.29 each, compared to the open interest of 746 contracts. The reference price was $17.4.
September 12, 2023 | 4:21 pm
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POSITIVE IMPACT
The large purchase of GameStop's call options indicates bullish sentiment from investors, which could potentially drive the stock price up in the short term.
The purchase of a large number of call options usually indicates that investors expect the stock price to rise. Given the significant number of contracts bought compared to the open interest, this could potentially lead to an increase in GameStop's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100