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GameStop Option Traders Don't Expect a Rebound
Shares of GameStop Corp. (NYSE:GME) plummeted in early trading today and options traders aren't expecting a rebound anytime soon. As of 10:51 a.m. ET the videogame maker has seen more than 6 000 calls cross the tape -- about 17 times the norm. However a healthy portion of the volume consists of neutral-to-bearish bets. Diving right in the February 27 and 29 calls are most active with around 2 000 and 1 000 contracts traded respectively. Implied volatility at the 27-strike call is more than 15 percentage points higher and volume at the deeper out-of-the-money call has exceeded open ...
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