Options

Rusty Shackleford 1 : Could you explain what that means please

AkLi OP Rusty Shackleford 1 : Yes of course!

To be clear, what I am observing here is unusual activity on the options chain.

On June 20th there were tens of thousands of contracts traded totaling millions, and today June 22nd there were again tens of thousands of contracts traded also totaling millions.

There is no 100% answer as to what this means. However, this sort of volume does tend to suggest that someone (or some people) know something bullish we don’t about GME and are trying to get in early at a better price before a possible upside move.

In the long and short of it, this is nothing more than an assumed trade. It could be institutions, a retail gambler, or even roaring kitty himself.

The usefulness of noticing unusual options like these are that a lot of the time someone does know something. You or I wouldn’t just buy 100,000 dollars worth if call options without a good reason.

The expiration is in June, so there’s about 2.5 weeks for GameStop to make a move before theta starts kicking in. Not sure if they are scheduled to release news or if there is another catalyst set to happen within the next 2.5 weeks, but keep an eye out!

Hope this helps clarify what we’re looking at, what it could mean, and the overall significance of noticing unusual options purchasing