Gamestop (GME, news, chart) is seeing active trading. The stock is up $2.23 to $46.10 on no fresh news today. Friday, Businessweek noted that, “Judging from its solid results in its fiscal second quarter ended Aug. 2, it’s doing very well indeed” and, despite the stock’s slump, some bulls “predict that Gamestop’s strong winnings will go on”. In the options market, volume is running 600 percent greater than the the usual for this time of day. Traders are clearly leaning on the bullish side of the trade, with 6,800 GME calls and 1,000 puts trading in the first two hours Tuesday.
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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.