Whales sold a combined $11.7 million in short positions on $GameStop (GME.US)$ that could benefit if the shares slump below $20 before the contracts turn into so-called zero-day-to-expiration (0DTE) options.
As of 10:42 a.m. Thursday, nine block trades were posted, each carrying a premium of more than $1.2 million. The sellers sold a combined 9,000 contracts that give the holders the right to sell a total of 900,000 shares ...