Gamestop (GME) sees a morning spike to $19.86 on “unconfirmed takeover speculation,” Fly on the Wall. Shares are now down 20 cents to $19.31 and 9780 calls traded on the retailer. Some speculators are focused on the July 20 calls, which have traded 3187X (74% Ask). August 21, August 24, and July 16 calls are busy as well. Implied volatility is up 2 percent to 45.
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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.