Options Brief: Bulls Frequent GameStop (GME)

GME – GameStop Corp. – Shares of the video game retailer rallied 3.75% to an intraday high of $22.03 this morning inspiring investor demand for near-term call options. GameStop’s shares are currently up a more modest 2.30% to stand at $21.72 as of 10:50 am (ET). Investors anticipating continued bullish movement in the price of the underlying shares purchased roughly 2,800 calls at the June $22 strike for an average premium of $0.42 per contract. Call buyers make money as long as the firm’s share price exceeds the average breakeven price of $22.42 ahead of expiration day next Friday.

About Andrew Wilkinson 1023 Articles

Affiliation: Interactive Brokers

Andrew Wilkinson is the senior market analyst at Interactive Brokers Group, where he provides daily commentary and analysis on U.S. equity options trading throughout the trading day. Andrew provides webinars designed to explain option-related trading scenarios covering futures, fixed income, forex and equities.

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