A Closer Look at Today's Options Activity for GameStop

Posted on 10/01/2013 by Peter Mankowitz

NEW YORK (AVAFIN) -- GameStop options set a new 90-day record for the number of call contracts that exchanged hands between the buyers and the sellers. Aggregate volume of puts was 13,564 and calls was 16,933 equating to a 0.80 put/call ratio.
Options are useful tools for predicting the movement of the underlying stock. Put/Call ratio statistics serve as a useful predictor of investment sentiment, indicating what experienced investors are doing in preparation for a move of an underlying stock. Thus, unusual volume provides reliable clues that the stock is expected to make a move.
Shares of GameStop gained $1.56 (+3.14%) to $51.21. The last trading session witnessed a low of $49.56 and high of $51.22 during the day. The current trading volume of 2M is greater than average volume of 2M shares. GME is trading above the 50 day moving average and higher than the 200 day moving average. The stock's 52 week low is $21.05 and 52 week high is $56.08. Performance indicators show that the stock has gained 1.99% within the last month.

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