GameStop Corp Holding Company (GME) $41.99 -3.52%
GameStop (GME, news, chart) shares are volatile and the options are active on the heels of the company’s latest profit report. The company posted better than expected second quarter earnings, but investors seemed to focus on in-line earnings guidance and projections for flat to +2 percent sales growth this quarter instead. The stock gapped down to $39.90 in early trading. However, since the conference call started at 11:00 Eastern time, GME has battled back to session highs of $42.22. In the options market, volume is running three times the usual, with 9,100 calls and 4,300 puts trading on the day. January 45 calls are the most actives, with 4,200 contracts traded and roughly half that volume trading offerside.
Category: All Stocks, Mid Cap Stocks, Retail
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
