GameStop Options Volume Surges Past Tesla, Nvidia Amid Sell-Off
GameStop options volume surged past Tesla and Nvidia in the first half of the trading day, with contracts expiring before the end of the day dominating.
Almost 900,000 options changed hands just before noon, making $GameStop (GME.US)$ the most-heavily traded stock options. That compares with $Tesla (TSLA.US)$'s 802,650 contracts, while $NVIDIA (NVDA.US)$ had almost 700,000 contracts.
Call options that give holders the right to buy $GameStop (GME.US)$ shares at $50 each by the end of the day were the most active-active contract tied to the stock. That option tumbled by 44% as the stock tumbled to $37.26, taking it deeper below that strike price.
Shares slumped 20% after the company reported disappointing quarterly financial results Friday morning and announced that it's selling as much as 75 million shares, diluting the stake of existing shareholders.
Net sales for the fiscal first quarter ended May 4 shrank to $881.8 million, from $1.24 billion in the comparable period a year earlier, the company said in its press release.
The company filed for the new stock offering after selling a total of 45 million shares for $933.4 million, according to the document sent to the Securities and Exchange Commission.
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Luzi Ann Santos
Moomoo Senior News and Community Manager
Former editor at Bloomberg, ex-commentary editor at Lazard. Posts aren’t investment advice. Views are just mine.
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25 hope with bumpyRD : How much stock price do they offer?
102188459 : Tq
Jesse Zhang 25 hope with bumpyRD : atm, sold to the market
Kin Moo 102188459 :
Tts proof to see. With record high option volume to press a mini-cap share. A kitty?
Daryl Rollins : Could Surely Use Your Advice Right Now. Any Chance of that??