Benzinga | Sep 30, 2021 04:12PM EDT

Tracking GameStop's Smart Money Trades

Today, Benzinga's options scanner spotted 5 uncommon options trades for GameStop (NYSE:GME). The overall sentiment shows 40.0% of the big-money traders are bullish on the stock and 60.0%, bearish. Out of all of the special options found by our algorithm, 3 are puts, for a total amount of $2,605,682 and 2, calls, for a total amount of $226,316.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that the smart money is targeting a price range from $150.0 to $200.0 for GameStop in the over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for GameStop's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of GameStop's smart money trades within a strike price range from $150.0 to $200.0 in the last 30 days.

GameStop Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestGME PUT SWEEP BEARISH 11/19/ $150.00 $1.0 million 2.6K 1.3K 21GME PUT SWEEP BULLISH 10/15/ $200.00 $1.5 million 2.1K 704 21GME PUT TRADE BEARISH 10/01/ $160.00 $45.1K 866 3.5K 21GME CALL SWEEP BULLISH 10/15/ $197.50 $124.8K 113 311 21GME CALL SWEEP BEARISH 10/08/ $180.00 $101.4K 107 657 21

Where Is GameStop Standing Right Now?

* With a volume of 2,945,842, the price of GME is up 0.02% over the last 24 hours at $175.96.

* RSI indicators hint that the underlying stock may be oversold.

* Next earnings are expected to be released in 68 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely. If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.