GameStop Options Looking Bullish
GameStop options are looking bullish again today after a strong last five days. GameStop is up 5.5% today and many GameStop calls are seeing high volume.
Here are the stats on GameStop options today, from to the Vigtec Options Matrix:
Here is a visual representation of how each GameStop option is going. Each bubble is a different options contract. Green means activity is bullish and red means the activity is bearish. The size of the bubble corresponds to the relative amount of premium traded.
While the options flow is usually green when a stock goes up, watching the options flow can tell us where a stock is going. If you watch the trade tape, you’ll see where large orders are being placed. For example, I just saw a large call order come in for the June 11 $210 calls. Someone traded 75 contracts at $11.85 per.
Since each contract represents 100 shares, the total premium of this trade is $88,875.
Here’s that trade on the tape, along with two other bullish option trades:
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