GameStop Option Alert: May 17 $10 Calls at the Ask: 1000 @ $1.5 vs 5272 OI; Earnings 6/5 After Close [est] Ref=$10.915
Portfolio Pulse from Charles Gross
GameStop saw significant trading activity with May 17 $10 calls being bought at the ask price, indicating investor anticipation ahead of its earnings report on June 5. The trading volume for these options was 1000 at a price of $1.5, compared to an open interest of 5272, with GameStop's stock reference price at $10.915.
April 25, 2024 | 3:21 pm
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Increased options activity on GameStop's May 17 $10 calls suggests heightened investor interest and speculation ahead of its earnings report on June 5.
The purchase of calls at the ask price indicates a bullish outlook from investors, expecting the stock to rise post-earnings. The significant volume compared to open interest highlights increased speculation or hedging activities. Given the proximity to the earnings date, this activity could lead to short-term price volatility, with a potential upside if the earnings report exceeds market expectations.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90