GameStop Stock Pops Following Billion-Dollar Equity Offering

GME is up over 1,000% in 2021

Deputy Editor
Jun 22, 2021 at 11:14 AM
facebook X logo linkedin


The shares of GameStop Corp. (NYSE:GME) are up 7%, last seen trading at $214.20, after the video game retailer announced the completion of an at-the-market equity offering. The retail company sold five million common shares, raising nearly $1.13 billion in capital to put toward general corporate purposes, growth initiatives, and keeping its balance sheet strong.

The proverbial meme stock has traded above the $200 mark for the better part of a month, after facing pressure from the level since March. With consistent support from the 80-day moving average, GME is up 1,039.2% year-to-date.

Meanwhile, there's a heavier-than-usual preference for puts in the options pits. This is per GameStop stock's 10-day put/call volume ratio of 1.19 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 83% of readings in its 12-month range.

Short-term options traders have also been more put-biased than usual, implied by GME's Schaeffer's put/call open interest ratio (SOIR) of 4.11, which stands in the 84th percentile of readings from the past year. 

That being said, now looks like a good opportunity to weigh in on the security's next move with options. GameStop stock is seeing attractively priced premiums at the moment, per its Schaeffer's Volatility Index (SVI) of 135%, which sits in the low 13th percentile of its annual range. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI