GameStop Option Alert: May 17 $15 Calls Sweep (5) near the Ask: 3109 @ $2.5 vs 27218 OI; Earnings 6/5 After Close [est] Ref=$15.017
Portfolio Pulse from Charles Gross
A significant option trade was made on GameStop shares, with a sweep of 3109 calls for the May 17 expiration at a strike price of $15, priced near the ask at $2.5. This is against an open interest of 27218 for the same strike. GameStop is expected to announce earnings on June 5th after the market closes, with the reference price at $15.017.
May 06, 2024 | 2:41 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The large volume of call options for GameStop suggests increased investor interest or speculation ahead of its earnings report on June 5th. The reference price is closely aligned with the strike price, indicating a bullish sentiment.
The purchase of a large number of call options at a strike price close to the current trading price suggests that investors are speculating on a positive outcome from the upcoming earnings report. This could lead to increased volatility and potentially a rise in GME's stock price in the short term, especially if the earnings report exceeds market expectations.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90