GameStop Option Alert: May 17 $12 Calls Sweep (5) near the Ask: 5000 @ $0.29 vs 2110 OI; Earnings 6/5 After Close [est] Ref=$10.4
Portfolio Pulse from Charles Gross
GameStop saw significant options activity with a sweep of 5,000 May 17 $12 call options near the ask price of $0.29, compared to an open interest of 2,110. This activity comes ahead of GameStop's estimated earnings release on June 5, after the market closes, with the reference stock price at $10.4.
April 24, 2024 | 2:51 pm
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The sweep of May 17 $12 call options indicates bullish sentiment from investors ahead of GameStop's earnings report on June 5.
The purchase of call options in large volumes suggests that investors are expecting GameStop's stock price to rise, potentially due to positive earnings results. This bullish sentiment could lead to a short-term increase in GME's stock price as the earnings date approaches.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90