GME stock closed at 31.58 today, +57%. This was a bit off its high of $38.38, or 90%. This stock traded 589k calls today, >375k of which expires in 2 days. Amazingly the stock “ran out” of call strikes, with the highest strikes being $40. Traders used that 1/15 expiration, $40 strike call to trade 93k calls.
This site claims to have an algo for reading Reddit WallStreetBets comments, and it implies a voracious appetite for GME stock.
Its likely the stock fades as these calls expire. Its certain that many of these calls, particularly the $40 strike were actually sold but we suspect based on sentiment that many of the 20-30 strike calls were long.
