You can go naked on the August $125's and get $0.57 contract. What are the odds an $8B company becomes a $40B company in just over a month? Next to zero? And yet....
Those 9000 option contracts were either a spoof by the biggest whales of all time... or GME is heading for the moon. All the option strategies, hedging... whatever.... in the world... there is no way on gods green earth someone is bidding $0.57 for the $125's one month out on a $24 stock and buying all they can get. Like I said, it's either the biggest spoof ever, or something is about to happen with this stock.
Where you getting this from? I hope you're not referring to this old news from May. bloomberg.com GameStop Options Bets Seek 300% Rally in Days Despite Share Dip **May. 15th, 2024** Calls betting on rally to $128 are among the most-traded Among the most-traded call options were contracts with $100 and $128 strikes — implying, respectively, a near tripling or even quadrupling in the underlying by Friday. The $128 contract had no open position prior to Wednesday, while the volume in the lower strike exceeded the number of outstanding positions.
18,000 contracts traded last week with a high of $0.67 and a low of $0.24. As Zwaen pointed out, OI is 30.7K The August $100's only had a weekly volume of about 3500 with a H/L of .67/.42
I think the promoters are running out of tricks. The apes bailed on CHWY, the high dollar strikes is so BBBY and Cohen. Seen this grift many times.