GameStop Options Bets Seek 300% Rally in Days Despite Share Dip
- Calls betting on rally to $128 are among the most-traded
- Shares sank as much as 36% in early trading Wednesday
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Even as GameStop Corp.’s shares cratered on Wednesday, some options traders were still betting on a massive leap this week.
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.