GameStop Option Alert: May 17 $15 Calls Sweep (20) near the Ask: 239 @ $1.931 vs 27218 OI; Earnings 6/5 After Close [est] Ref=$14.5
Portfolio Pulse from Charles Gross
GameStop saw significant options activity with a sweep of 20 May 17 $15 calls near the ask price, totaling 239 contracts at $1.931 each, against an open interest of 27,218. This activity comes ahead of GameStop's estimated earnings release on June 5, after the market closes, with the reference stock price at $14.5.
May 06, 2024 | 3:21 pm
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POSITIVE IMPACT
The options activity indicates increased investor interest in GameStop ahead of its upcoming earnings report, potentially signaling a bullish sentiment.
The purchase of calls near the ask price, especially in a sweep, suggests that investors are anticipating positive news from the upcoming earnings report, which could drive the stock price up. The volume of contracts and their positioning against the open interest highlight a notable interest in these options, suggesting a bullish outlook by some market participants.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90