Options Market Statistics: GameStop, AMC Shares Skyrocket, Options Pop After Meme Stock Trader Posts for First Time in 3 Years
News Highlights
$AMC Entertainment (AMC.US)$ shares ended 78.35% higher. Its options trading volume was 1.91 million. Call contracts account for 75.9% of the total trading volume. The $8 calls expiring May 17 were traded most actively.
$GameStop (GME.US)$ shares ended 74.40% higher. Its options trading volume was 0.70 million. Call contracts account for 57.7% of the total trading volume. The $34 calls expiring May 17 were traded most actively.
The surprise social media return of the trader who helped ignite the meme stock frenzy in 2021 sent GameStop shares skyrocketing Monday. The surge had nothing to do with the troubled company’s fundamentals — and everything to do with a cartoon of a gamer that the trader, nicknamed Roaring Kitty, shared on X.
GameStop shares surged 74% on Monday after the account run by Keith Gill shared a meme on X, marking its first post in three years. The shares skyrocketed by more than 110% earlier and were halted for volatility several times on Monday morning.
Short sellers have seen $1 billion in mark-to-market losses betting against GameStop on Monday, according to data company S3 Partners. Short-sellers aim to turn profits on a stock by borrowing shares, selling them and returning them after purchasing them at a lower price.
Shares of AMC Entertainment, another meme stock, popped 78%. Reddit shares climbed roughly 9%. Shares of trading platform Robinhood Markets, which suspended purchases of GameStop, AMC and other meme stocks during the frenzy in 2021, rose 4%.
$Alibaba (BABA.US)$ shares ended 5.70% higher. Its options trading volume was 0.56 million. Call contracts account for 73.5% of the total trading volume. The $85 calls expiring May 17 were traded most actively.
Unusual Stock Options Activity
There was a noteworthy activity in $GameStop (GME.US)$, where multiple calls have topped volume to open interest ranking. The highest volume over open interest ratio reaches 318.7x with nearly 33,140 contracts.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, The Guardian, Bloomberg
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